The property is in an older, established street on a point giving properties on one side waterfront access and sea views . The properties in this area are generally of a high standard and are desirable both as residences or rental properties so fetch a good return and are highly sought after, some not changing hands as they remain in local families. In this instance the property is around 2000 square metres or half an acre with a house and off street parking. It is currently connected to a septic tank but this is possibly changing, which would allow the property to be developed for multi residential use such as apartments. There is certainly a trend towards this at present with 2 waterfront residential developments under way or scheduled.
The property is to one end of Vatuvia Rd, which is circular with 2 points of access from Marine Drive. The property is even in shape, widening towards the waterfront. The area is across from the picnic spot of Mosquito Island, and some residences have their own jetty and moorings around the Lami waterfront. Lami is about 11km from the CBD, so attracts a number of expatriates who wish to reside outside of Suva. It is a 10 minute car ride to the Suva CBD during off peak traffic. Lami is well situated with shopping, doctor, pharmacy, butcher, service station, LTA, and a large industrial area in Wailada. Because of the proximity to Wailada, the overseas roading companies are always looking for good quality rental residences. Recently Lami Heights properties sold well resulting in new residences of a high standard of living being built.
The residential market in Suva is still currently undersupplied when it comes to a higher standard of rental accommodation and as organisations such as ADB and World Bank expand their offices in Fiji there is an increase in the number of expatriates who are looking for quality accommodation, making this property highly attractive as is or for further development.
Currently, the section has a 3 bedroom cottage and a separate home office/guest room/fort 😉 you choose. The deck is ideal for entertaining, with great sea views. There is a pool which requires some work. And the established garden has been well maintained. The living area is open plan. One bedroom has an ensuite, while the other 2 share a common bathroom. There is a separate toilet for guests and pool.
The property runs from Vatuvia Rd to the waterfront making it ideal for development into up upmarket apartments with Vatuvia Rd being one of the most highly sought after streets for homes or investment properties. Drawings have been done by the current owner for a possible redevelopment of the site, and these are available to the buyer.
The owners will consider offers near their asking price. To arrange a viewing call 713 9368 today.
Native Lease 2000m2.
Updated on November 13, 2019 at 11:04 pm