Exclusive Island in Fiji Set for February Auction Sale with Platinum Luxury Auctions

Sale Features Luxury Villa and 19 Buildable Lots on Wavi Island

Jan 19, 2016, 12:06 ET from Platinum Luxury Auctions

SUVA, Fiji, Jan. 19, 2016 /PRNewswire/ -- Platinum Luxury Auctions, a specialized auction firm focusing on the sale of unique and distinguished properties around the globe, has announced two upcoming auctions in Fiji that offer buyers the opportunity to own a slice of an ultra-exclusive island in the South Pacific. Known as Wavi Island, the 27-acre retreat features only twenty oceanfront lots, ranging in size from one-half to one full acre. On Saturday, February 13th, the island's "Signature Villa" will be sold to the highest bidder without reserve. The oceanfront Villa was recently asking $2.9 million. Immediately following the sale of the Villa, Wavi's nineteen remaining oceanfront lots will be offered for sale as part of a "high bidder's choice" auction, in which the highest bidder of each round of bids will choose his desired lot from the available inventory. The lots were previously for sale at prices ranging from $1 million to $1.89 million each. Platinum, a Miami, Florida-based firm, is managing the sale on behalf of Wavi's developer and owner.

Fiji is one of the very few countries in the South Pacific Islands that allows foreigners to own property, including the ownership of freehold real estate. Even so, more than 91% of Fijian real estate is held in "leasehold," meaning that purchasers never truly hold free and clear title to a given property, but instead lease it over the course of a very long term. All of the properties on Wavi Island, however, offer freehold title and unencumbered ownership, giving prospective buyers peace of mind in their Fijian property investment.

"What strikes me about Wavi Island is the truly dynamic nature of the asset," said David Enriquez, Platinum's Vice President of Operations. "The Villa caters to those seeking an immediate retreat, while the various lots offer plenty of options for those who love brand new construction. And of course, for the individual who wants his own private island, Wavi can be sold as one entire unit."

The Signature Villa was completed in 2012 to serve as Wavi's showcase or "model" property. The 3,000-square-foot residence offers 3 spacious bedrooms, 3 full and 3 half baths. Although very plush by modern standards, the Villa also remains true to traditional Fijian design elements such as high-pitched rooflines and beams wrapped in magimagi, a strong fiber made from coconut husks that is used to hold joints and beams in place (or in many modern cases, to reinforce or simply accent the structure).

Prominent Villa features include a large master suite with covered terraces paved in teak sandstone, and a master bath with an en-suite double shower and sunken mosaic tub. Louvered bi-folds open the suite and bath to the sparkling Koro Sea and Fijian mountainscape. Additional amenities include a horizon-edge pool and wet-edge spa, large pool deck and gazebo lounge, a 3-vehicle garage, and spectacular ocean views from nearly every spot on the premises.

The nineteen additional lots on Wavi are vacant and ready for immediate development, with power and water sources already pre-installed. Interested purchasers are able to review the various custom building packages that are permitted for construction of additional luxury villas on these lots, including options for larger villas on combined parcels. Each lot also comes with one mooring in the island's private lagoon.

Although setting foot on Wavi feels like being transported worlds away from the hustle and bustle of civilization, the island is in fact quite accessible. It is connected to Vanua Levu - Fiji's second largest island - by a private, 450-meter bridge. Once on Vanua Levu, the Savusavu Airport is within 6 miles. That airport provides for a short flight to the Nadi International Airport on Fiji's main island of Viti Levu, which services nearly all of Fiji's international flight traffic.

Property previews for Wavi Island begin February 1st, and will continue daily until the auction date. Interested parties may contact Platinum Luxury Auctions at 800.970.2858 or visit WaviLuxuryAuction.com for additional details.

About Platinum Luxury Auctions
Platinum Luxury Auctions specializes in the non-distressed sale of multimillion-dollar properties within and beyond the United States. The Platinum team has closed more than $425 million in luxury real estate auction sales to date, while consulting on more than $1.4 billion in additional luxury properties worldwide. The firm is responsible for developing the luxury auctionSM model for high-priced real estate auctions.

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SOURCE Platinum Luxury Auctions