Is the development underway?
Yes, development work started in 2007. Civil works required to complete the subdivision are 60% complete. In early 2009 the finance company funding the development collapsed leaving the developers unable to complete the works.
What am I buying?
A developed freehold residential plot in a gated marina.
When will the hotel and marina be completed?
The development is in two phases. Phase One – Land construction including the formation of six acres of reclaimed land in the water. This will house Phase Two – hotel, apartments, retail shopping and the marina.
What happens to the money I am paying?
The payment structure offered for your purchase is designed to meet the financial requirements needed to complete the works in phase One. The progress payments made to the construction company will be paid over by the UK Stakeholder holding deposit funds collected upon “Certified Invoices” submitted under the terms of the civil works contract. i.e. your deposit will fund the cost to complete the development of Phase One.
What is my security?
An initial deposit is held in escroe until after the offer becomes unconditional in all respects. If the offering does not proceed for any reason by March 2011 then all deposits will be refunded. Once the offering is declared unconditional Pacific Point Fiji (UK) Ltd will hold all existing freehold titles and securities in favour of the interests of yourself. Your security will be in the form of the contract you hold between yourself and Pacific Point Fiji (UK) Ltd.
How safe is my money?
The appeal in this offering is that to date circa 6 million pounds has been spent at Pacific Point. Pacific Point Fiji (UK) Ltd has acquired the titles and assets of this investment which will be held as the security on behalf of purchasers until all obligations by the development company are met under the terms of your contract. The cost to complete Phase One is being funded by sales income is secured by the securities of the entire development in turn offering total security.
How can I be assured the purchase price is good value?
A valuation by bank valuers is available upon request. The sqm rate for freehold developed water front land in Fiji in historically reflects sales up to $1,000 sqm, this offering is at approximately $400 sqm.
If I choose to take up the offer of “guaranteed buy back” what is the time frame for this and how guaranteed is it?
You must make a decision on this offer by 1st June 2011. We guarantee our obligations will be met within two years from certificate of title for your purchased lot.
What happens if the developer defaults on the buy back guarantee?
If this was to happen, your contract would be enforceable against Pacific Point Fiji (UK) Ltd who hold the entire developed lot as security. These securities broadly represent 3 times the value of the lots available in this exclusive buy back offer.
Can we build a house and live there?
Yes you can and we provide you with our preferred partners who will be building show homes once titles are released on developed lots.
Once we receive developed land lot title what are our options?
- Activate the guaranteed buy back ensuring 100% cash back for your 50/50 purchase.
- Hold your lot until Phase Two is underway with hotel construction as well as residential housing in Phase One and market your lot on an open market through our sales office.
- Agree a house build on your lot with our preferred building company and allow them to build and sell a home on your site.
- Keep the land as an investment and enjoy capital gains from increased value being added to this exclusive development over the next 5 years.
http://www.pacificpointfiji.com/
For site on Pacific Point Fiji.
www.osapeninsulaproperties.com/converter.html -
For those that need to convert Hectares to Acres
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