If your idea of heaven is a private island in Fiji all to yourself, then you may be in luck.
There’s not one, but two neighboring islands – Nanuyasesara and Nanuyabuli – being offered together at auction in a rather rare opportunity. The two undeveloped islands in Fiji’s Yasawa Group were previously listed for $4.512m and are now returning to the market with a $1.7m reserve.
The pair sit just off the southern coast of Naviti Island, approximately 2.5 hours by launch from the Nadi area, or about 30 minutes by seaplane or helicopter, according to listing agent Richard Snowsill. Together, they span approximately 24.5 acres, with no villas, hotels, or other major developments currently occupying either island.
Instead, they are made up of tropical white-sand beaches with postcard-worthy views across the surrounding Pacific. According to Snowsill, the islands are being offered again because “the landowners are seeking funds for other projects.”
Misha Haghani, CEO of Paramount Realty USA, which is conducting the auction with listing agent Cara Milgate of Intero Real Estate Services, says the lack of development is the most interesting feature. “An asset like two untouched islands in Fiji transcends typical valuation metrics.”
So rather than buying someone else’s idea of an island escape, the next lucky owner will get to conjure it up for themselves. The islands could well potentially be used for a private residence or even developed for tourism – although any project would involve the usual planning and infrastructure requirements associated with building on an undeveloped island.
The islands are also held under a 99-year Special Use-Tourism Development Lease, meaning that the purchaser would acquire rights to use and develop the islands for tourism, subject to the conditions and restrictions set out in the lease, which have not been publicly revealed.
Whichever route the new owner chooses to take, what might turning that blank canvas into reality actually cost? Snowsill says that “in addition to the basic infrastructure and utilities, the local agent estimates construction of a modest residence at approximately $5,000-$8,000 per square meter. That is a preliminary building estimate, not an all-in cost to make the islands habitable.”
Exactly how complicated – and expensive – that becomes will depend on what the eventual owner wants to build. But the world really is their oyster…
