40-acre island resort fetches $5.79m selling price
25 May, 2018, 1:44 pm
A 40-ACRE beach resort property in the Yasawa group is up for sale at a price of $5.79million (US$2.8m), offering new development opportunities for resort investors, developers, and operators.
According to magazine Private Island Inc, the present owners of the property located on Nacula Island’s Balawi Beach are seeking expressions of interest for the development of both the resort and residential beachfront lots.
The unique project consists of an adjacent resort and residential properties (Balawi Beach Resort and Villas), each just under 20 acres in size, boasting over a mile of extraordinary beach frontage.
The undeveloped resort property is for sale in its entirety, while the residential property is simultaneously available as part of a joint venture agreement with the present owners.
The expression of interest states that residential villas will be independently owned under resort management, offering an extra return on investment from both the sale of the land and the building of the villas.
Balawi Beach’s integrated resort configuration can be custom tailored. The current configuration consists of a five-star resort with 23 cottages, complemented by 22 beachfront residential villas.
A larger 55-cottage five-star resort is also under consideration and a standing offer for a hotel management agreement exists from one of the world’s largest hotel groups (US-based), which would make Balawi Beach Resort their only five-star property in Fiji.
Each residential villa will sit on a half-acre lot, with more than 130 feet of exclusive white sand beachfront.
Villa owners will have the option to lease back to the resort, potentially providing even more five-star accommodation.