Hexagon Group Plans Yadua
A new four-star boutique hotel will be added to the chain of hotels and resorts in the Coral Coast.
The much anticipated, Yadua Bay Resort and Villas Integrated Resort Development, is being developed by the Hexagon Group of Hotels.
The Hexagon Group of Hotels hosted an expression of interest cocktail at the Suva Motor Inn last night for the local market and residents.
“Yadua Bay Resort & Villas is a fully integrated resort development and is the latest project by the Hexagon Group,” said Hexagon Hotel Group managing director and president of the Fijian Hotels and Tourism Association Dixon Seeto.
“What we mean by ‘fully integrated resort’, is that, not only is Yadua Bay Resort & Villas a great investment, but it also offers immediate lease back opportunities with the four-star boutique hotel which is scheduled to open in October 2017.”
Mr Seeto said the resort was a $10 million investment for the first phase of the development and the Hexagon Group had already spent $7 million over the past few years.
Yadua is a fully-developed project, with electricity, water, communications, sewerage and gas in place and underground.
He said it was also title ready with deeds in hand.
“The 27-acre site has sealed roads throughout and has extensive 180 degrees ocean views and is a beach front development.
“It will have 20 rooms upon completion in October this year and the additional room inventory will come from those who have invested into the development,” Mr Seeto said.
The group plans to have another 12 town houses on beachfront lots as phase two of the resort which will be ready next year.
“Each townhouse will have three units of bedrooms with a lock off. Each townhouse has two keys which will increase the resort’s inventory by 24 keys.
“With the indicative room rates we have projected for the quality of product the guests will be receiving, we are confident that Yadua Bay Resort & Villas will attract not only international guests, but also domestic guests.”
He said the resort would have a designer horizon pool with state-of-the-art aquatic massage beds and a spa.
The resort will also have a kids water park with a deeper area for diving lessons to ensure the resort is family friendly.
He added an Indonesian herbal therapy spa and perfect snorkeling condition were part of the plan.
“The restaurant is an open Kabara style layout overlooking the pool and the beautiful Pacific Ocean,” he said.
The group is collaborating with Audie Pacific Engineering from Indonesia on the design and furnishing of each villa.
“All our lots offer unobstructed ocean views with our lot prices starting from $F240,000 for a 600 square meter lot and $375,000 for a quarter. Waterfront lots are from $500,000 for over a quarter acre in size,” explained Mr Seeto.
He said 50 per cent of the gross takings (based on average takings) went back to the buyer, while the other 50 per cent was retained by the resort for upkeep, labour and other expenses.
“The land is crown lease and has 99 years comfortable rentals per annum of about $1 000,” he said.
There is no limitation on the personal use of the villas he said.
“We must stress that the owner must give a minimum of one key per villa to the resort in order to enjoy the integrated resort development concessions,” he said.
Mr Seeto said most of the local investors who had expressed their interest were mainly from the Central and Western divisions.
Another launch for the interested investors from the Western Division will be held tonight at the Hexagon International Hotel, Villas and Spa.
“It is a boutique resort, not large but it would be of a high standard,” said Mr Seeto, of Yadua.
International investors will get a chance to taste a piece of the cake before the hotel opens in October, Mr Seeto said.
EDITED BY: IVAMERE NATARO