Questions & answers

There are three designs: a Two Bedroom Villa from FJD $2,199,000 + VAT, a Three Bedroom Villa from FJD $2,799,000 + VAT, and a Four Bedroom Villa from FJD $2,899,900 + VAT. Every villa sits on a lot of at least 1,000 m² (some are bigger).

Every villa includes a 4 x 7 m pool (standard), decking, landscaping, an outdoor barbecue area, a full interior furniture package and an exterior furniture package.

You choose the location you desire and a villa that fits your budget, sign the sale and purchase agreement and a deposit of FJD $75,000 into a trust account (held in trust until the final scheme plan is approved, when the deposit moves to 10%). You then make progress payments as the villa is built, with the final payment due on the certificate of completion, when you can occupy your villa.

The recommended ownership structure is a Fiji private limited company.

Finance: up to 50% over 15 years at under 5% interest, subject to lender approval. It is generally possible to get financing for this sort of development from ANZ or Westpac.

Please get independent legal and tax advice before you buy.

Most land in Fiji is leasehold, so you are purchasing a sublease for the lot your villa is built on. This lease is until 2099, with a rollover option for another 100 years if the local landowners do not purchase the villa from you at a fair market value.

You are also purchasing the structure, and the furniture and fittings.

The villa designs are fixed, and the colour schemes are also fixed, as is the furniture package. You are only able to choose the location and the size of the villa you want to own, and the optional Murphy bunk beds. Every villa comes with a 4 x 7 m pool as standard.

It is possible to sign a management agreement with Paradise Cove Resort and have your villa added to the letting pool. You can then earn income from the room nights you don't use for your friends and family. The revenue is split 50/50 after commissions, management fees, advertising, VAT, operating expenses, land rent, insurance and any repair costs are deducted.

If you choose not to put your villa in the rental pool, you will sign a maintenance agreement with Paradise Cove Resort, and Paradise Cove will look after and maintain your villa on your behalf.

1) Maintenance (FF&E) costs: an annual fund for future repairs and replacements, starting at 1% of revenue and stepping up over time (1% in years 1–2, 1.5% in years 3–4, 4% from year 5).

2) Operating costs: annual costs for your share of maintaining common areas, and consumables, at 2.5% of the purchase price annually.

3) A daily resort fee when you stay, for the provision of housekeeping and consumables (6% of the published room rate).

4) Ancillary services: things you purchase during your stay, like meals, drinks, shopping, activities and resort transfers to the island. These, and the daily resort fee, are paid at checkout.

If you are not in the rental pool, you can use your villa year-round; you are just not allowed to operate it commercially (i.e. no independent Airbnb etc.).

If you place your villa in the rental pool you are allowed 10 weeks a year of personal use: 4 weeks in the high season (1 April – 31 October, 20 December – 14 January) and 6 weeks in the shoulder season (1 November – 19 December, 15 January – 31 March).

Villa owners will have access to all existing resort areas and dining options, both on the main island and on the island next door, which will have another hotel built on it in the next few years.

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