Strong Interest for Commercial Property

Nov. 15, 2017, 10:27 a.m.

Strong Interest for Commercial Property

A commercial property along Nadi’s new bypass road has drawn strong interest from both local and overseas buyers, giving credence to the rising locational value by the new route linking the hubs of Martintar, Wailoaloa and Denarau.

Exclusively listed with Inglewood Realtors, the corner block commands immediate road frontage and currently houses a private home and goods store, with plans for a new complex already approved by municipal and government authorities.

“This property sits in the middle of the road route connecting Denarau Island and Fantasy Island, two main residential and commercial hubs and areas of key developments, so it provides great centralization, especially for a further business expansion,” noted Inglewood managing director, Praneel Dass.

Minutes from Denarau, Martintar and Nadi’s central business district, the property sits on commercial Crown land, with 68 years remaining on its lease, and an asking price of FJD $1.4 million. Its proximity to Wailoaloa Beach and the large inventory of tourism properties there has also been an attractive feature.

“The fact that plans for a new shopping complex and residential apartments have already been approved gives prospective buyers additional incentives, as all they’ll only have to carry out the construction project. And there are further opportunities for commercial units or a hotel development on this site.

Strong Interest for Commercial Property

“Also, this bypass road from Martintar has redirected a lot of traffic to this route from the Queens Rd and now used by many Denarau residents, so the property’s road frontage provides valuable exposure.”

With the Nadi Town Council preparing the tourism hub for city status, Dass noted that the expansion of its municipal boundaries would impact the real estate appreciation of many proprietors and attract a higher urban drift.

“We can definitely expect property value and prices to go up and a lot more people moving to Nadi, especially from Sigatoka, and also expect a lot more interest from overseas investors. While many go for Freehold land, Native titles also offer extremely attractive locations and security- it’s just a matter of getting organized with the correct documents and liaising with the appropriate authorities.”

Dass himself has amassed a decade of real estate experience and recently returned to the market after a two-year hiatus, successfully re-established Inglewood across major national centres.

The realty house now has close to 20 sales staff operating in Nadi, Lautoka, Suva. They have also mostly recently expanded to Savusavu and Labasa to cater to the growing market there, which includes a considerable percentage of foreign buyers.


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