Matana South Seas Plantation

Fiji | Pacific Ocean

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  • Size 806 acres
  • Price
    • USD 18,995,000
    • EUR 16,269,807
    • CYP 16,269,807
    • GBP 14,242,589
    • CAD 24,609,710
    • SEK 165,825,130
    • CHF 18,861,588
    • AUD 25,094,551
    • BRL 69,234,538
    • NZD 27,466,689
    • FJD 16,269,807
  • Location Koro Island
  • Country/State Fiji
  • Region Pacific Ocean

Situation
Matana South Seas Plantation
has been accurately and exotically described by none other than Captain Bligh of His Majesty's ship Providence, who wrote during his historical journey from Tahiti to Batavia in 1789, "the island of Koro is of good height, it is easternmost of the islands I discovered and passed and recorded in my log book on May 6, 1789, on the Bounty's launch. Nothing can exceed its beauty. I place it in 17° 11' S." The fee-simple title/s to the large landholding estate of 806 acres (whole) described as "Matana Plantation", is contained but contiguous land titles, as follows, being part of Koro Island.

Acreage
Certificate of Title 5588 - Koro Island (part of) known as "Matana" consisting of 806 Freehold (fee simple) acres. "Matana" consists of the 4 following land titles:

• Folio C.G.500 known as "Nadawa" consisting of 86 acres
• Folio C.G.357 known as "Matana" consisting of 276 acres
• Folio C.G.473 known as "Nola#1" consisting of 234 acres
• Folio C.G.499 known as "Wailolo" consisting of 211 acres

The above separate but contiguous land title holdings offer the new owners development options over the entire or parts of "Matana", as the case may be.

Property Taxes: None

The Landholdings

The map of Koro Island herein shows the position of the extensive northwest landholdings, the harbours of Vatumatau Bay, plus the magnificent beach promontory known as Wailolo Point or Nola Point. The location of the approximate 4 miles of white-sand beach frontage which bounds the whole western frontage to the entire estate is also shown. Only 8% of the land in Fiji is available in fee. All other (92%) is held in trust for the Fijian People.

History
Matana is an extensive former copra-producing estate, of the same type which in Fiji have been acquired and then re-developed for resort and related residential usage in the hands of new owners. The property is one of the few fee-simple or freehold estates on Koro Island. which itself has been untouched by the inroads of time and development, but which falls within a location and climate-belt lending itself to alternate re-development options, as described, subject to the usual authorities' consents. Koro Island has its own airport serviced by Fiji Air, the inter-island airline center.

Topography
Ranging from sea level at the approximate 4 miles of white sand beach frontage to 500 feet above (along the timber-line to the eastern boundary of the estate), the extensive landholding/s possess(es) stunning sunsets, varying contours within valleys, promontories, slopes and flats for alternative re-development options, without any major building constraints.

There are no authorities' utility supplies of electric power, telephone, or water supplies available. The land is serviced by a number of running streams, waterfalls and creeks, providing ample water supply sources for any major development.

Improvements
Matana is linked to the coastal roads serving Koro Island by plantation roads and tracks. The current owner made the road through the plantation high in the hills, thus preserving the pristine beaches. Situated on an elevated plateau are a number of plantation worker quarters of the board & batten type, which have no material value in relationship to the overall value of the extensive landholding site.

Method of sale
The Plantation is being sold "as is" as a property transfer with cost of transfer and 2% stamp duty to the account of purchaser. Upon settlement of completion date, vacant possession shall be granted. Transfer of title/s will be in accordance with the laws of Fiji.

Government Incentives for Hotel Development
• No corporate tax on profits for 20 years
• Duty free entry of all capital, equipment, machinery and plant.
• There shall be a 100% write-off on all capital expenditure in any one year during a period of eight years within the same period.
• Losses can be carried forward for six years

International Access to Fiji
The South Pacific and Fiji Islands in particular are well served by international air and maritime transportation. Direct flights are available from and to Japan, United States, Hawaii, Australia, New Zealand, New Calendonia, Vanuatu and other islands of the South Pacific. The Koro Island Airport is only 30 minutes by air from the Fiji's Nadi International Jet Terminal. Fiji Islands is a member of the British Commonwealth. Islanders are English speaking.

Adjacent Development
Five hundred acres adjacent on the southern boundary is Dere Bay Resort and Estates Development. Half acre beach access estate lots sell for USD 125,000 (or USD 250,000 per acre).

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