Subject land is located in Vatumatau Bay in the leeward side of Koro Island facing Savusavu (Vanua Levu) with panoramic views of the Bligh Waters (Koro Sea). Bordering on the south and west is Matana Estate (formerly owned by renowned American Actor Clint Eastwood) and used to be maintained as a copra plantation.

The land has close to a mile of white sandy beach. Along the beachfront is flat and gradually the contours rising towards the back of the property with fantastic ocean views of the whole bay extending all the way to Vanua Levu and picturesque view of surrounding islands (Magogai, Wakaya, Nairai, Gau, Taveuni).

The terrain,though elevated,is not rugged and commands perfect views of the bay and is ideally suited for residential and exclusive upmarket resort development. One must imagine feeling the undisturbed peace, even to visualize a dream home perched on the hillside.

A little way from the beach, the water is deep enough to allow yachts to moor. The government road runs around the island along the coast passing through 14 main villages. The road is gravelled and accessible, however caution during rainy weather is advised. The Government Station is situated at Nasau where Health Centre, Post Office, Telephone Exchange, Agriculture and the Island's only High School is located.

There are several primary schools spread around the island. Most of the villages, through government assistance, have installed telephone lines at village centres.

Land Details

Traditional Land Name - Naturu turu wai liwa. As in all Fijian names, the land has significant importance to the people of Koro Island. As the legend goes, the name signifies the place where young men wash their face in the clear spring water (natural spring water still exists) - a ritual where a warrior enters manhood and a ceremony to mark the occasion. The property is also known as "Nabukete".

Legal Description

Certificate of Title Number 5608 NG 153 Vol:57 Real Property Dealing 3417, the fee-simple title contains 147 acres freehold.

Location

Koro Island is in the district of Cawa, province of Lomaiviti, Fiji Islands. 179' Longitude East and 17' Latitude South. Koro Island's location was earlier plotted by Captain Bligh. In 1789, he wrote, "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 Launch".

Ironically, he discovered Koro Island, plus other islands, in the Fiji Group while being chased by the natives in their double canoes following the mutiny of the Bounty.

Background History

Nabukete was a former copra-producing estate leased and managed by Burns Philip South Seas Company Limited in the 1930's during the height of the copra era. Similar large landholdings in Fiji were acquired and managed privately by European settlers predominantly in the north and east as copra-plantations. Now, given the decline in demand on copra, most owners are opting to sell either piecemeal to foreign buyers or redeveloping for resort and other related residential usage.

Koro Island has a rich history, discovered by Captain Bligh in 1789 following the Bounty mutiny and again temporarily occupied by the American Navy in World War II and served as a training ground. The sheltered bay (Vatumatau Bay) and deep waters served ideally for warships and numerous exercises the navy carried out in preparation for the Japanese invasion in the pacific.

Nearby world class Wakaya Island Resort has a similar concept with private residential home sites commanding in excess of USD$500,000 for a two acre lot. Tourism is one of Fiji's major income earners and the government places a lot of emphasis and incentives to foreign investors. Fiji already has many world class hotel/resorts but will need more to cope with the expected increase in visitor arrivals as forecasted by the Fiji Islands Visitors Bureau.

The friendly nature of the Fijian people and the sheer relaxing atmosphere, free of terrorism, hustle and bustle of city life, stress and many associated problems of the Western way of life has made Fiji the safest and popular place to holiday. Fiji has an English speaking population, well developed financial sector, sophisticated telecommunication links (internal and external) and good infrastructure conducive to investors.

*Only 9% of land in Fiji is freehold with the remaining 91% held in trust for the native Fijian people.

Climate

Fiji is blessed with a warm tropical climate all year round and receives adequate rainfall a source of water supply to most remote places besides creeks and running streams. Koro Island owing to its location in the eastern part of Fiji, predominantly the wetter side, receives above average rainfall which could be tapped to provide whatever water requirements for any major development.

Government Incentives for Hotel Developments

No corporate tax on profits for 20 years. Duty free entry on all capital, equipment, plant and machinery imports. 100% tax write-off on all capital expenditure in any one year during the period of eight years within the same period. Losses can be carried forward for six years. Easy repatriation of profits. Fast track approvals.

International Access to Fiji

Fiji is also referred to as the hub of the pacific, in particular its location to Australia and New Zealand and the rest of the pacific islands. Fiji has excellent international air and maritime transportation. Direct flights are available to and from Japan, United States, Hawaii, Australia, New Zealand, Canada, New Caledonia, Vanuatu, Tonga and other islands of the South Pacific. The Koro Island Airport is only 30 minutes by air from Fiji's Nadi International Airport. The inter island ferry sails to Koro Island twice a week from Suva enroute to Savusavu and Taveuni.