How will the apartments be managed?
The designated manager will be responsible for looking after the common areas and facilities, overseeing the Body Corporate structure, and operating the Management Scheme including marketing, check-in and check-out, servicing & maintenance of the apartments, and financial reporting.

How will the Management Scheme work?
The apartments under the Management Scheme will cater for both short term and medium term guest. The income from the apartments will not be pooled, however owners will be regularly informed of the overall occupancy that is achieved for all apartments in the scheme.

What kind of tax incentives will there be under the Management Scheme?
It is anticipated that the Hotel Aid Investment Allowance will apply to purchasers who enter into the Management Scheme and those purchasers will be entitled to an investment allowance of 55% of approved expenditure (including the construction cost component of the purchase price) which can be applied to offset subsequent letting revenue earned from the scheme for income tax purposes thereby providing a significant incentive for those purchasers.

What private usage can an Owner expect in the management scheme?
Purchasers will have a choice of purchasing as Owner / Occupiers or to join a Management Scheme under which the apartment will be let for short term stays by the designated manager.

Owners in the Management Scheme will be required to make their respective apartments available for letting a minimum of 9 months each year.

Can I live in the apartment if I own it as an Owner/Occupier?
Yes, the Owner/Occupier arrangement is designed for owners who wish to live in the apartment permanently or rent the apartment out for long term rentals.

As an Owner/Occupier, is there a minimum rental period?
All owners (including Owner/Occupiers) will be prohibited from entering into any letting arrangement for a duration of less than 6 months, except through the instrumentality of the designated manager.

Can I swap from the Owner/Occupier to the Management Scheme?
There is no restriction on purchasers wanting to shift the designation of their apartment from an Owner/Occupier to the Management Scheme. Purchasers who participate in the Management Scheme will also be able to shift to the Owner/Occupier as long as the shift does not cause the total number in the Management Scheme to drop below 30 apartments.

Can I furnish my own apartment?
If a Purchaser elects to be part of the Management Scheme, they will be required to purchase the Furniture Package.

For those Purchasers who chose to be Owner/Occupiers, the furniture package is optional. If at a later date a Purchaser decides to place their apartment in the Management Scheme, they will be required to purchase the furniture package.

What is the floor area of the apartments?
The area of the apartments range from 50-60 sq.m. for a 1-bedroom, 100 sq.m. for a 2-bedroom, and 120 sq.m. for a 3-bedroom apartment. This area does not include any patio or balcony areas.

For a complete list of apartment types and a downloadable table of floor areas, please click here.

What recreational facilities are there for apartment residents and guests?
The development will feature a reception area, guest lounge, a BBQ area and a 25m lap pool in a secured environment.

Residents will also enjoy all the benefits of being part of Denarau Island Resort, from a wide range of restaurants and bars to the championship golf course and tennis courts. The apartments are conveniently located within walking distance from Port Denarau and the various marine options on offer.

What Stamp Duty will I pay?
As you will be signing a Sale Purchase & Construction Agreement, it is expected that Stamp Duty of 2% will payable on the Land Price only of F$11,477.27 for each apartment.

Is there an Owner's Body Corporate?
All purchasers will be members of a Body Corporate which will own and control the common areas and facilities. The Body Corporate will engage the designated manager to manage and maintain those common areas and facilities.

The structure of the Body Corporate will be a New Zealand incorporated society. The incorporated society structure is suited to the non-profit nature of the Body Corporate role (incorporated societies are prohibited from having the objective of pecuniary gain).

All purchasers will become members from settlement of an apartment purchase and will be bound by the Body Corporate constitution and rules. Members will be required to contribute to all Body Corporate costs (including all costs levied under the building management agreement described above and the land lease) on a pro rata basis according to relative apartment values.

What kind of title will an Owner receive?
The head title for the development will be a State Lease (the existing State Lease for land which includes the proposed development site will be subdivided) which will at settlement be held by the Body Corporate. Each purchaser will acquire a registered sublease of the apartment they purchase. The common areas (being the balance of the development area) will be the residual area under the head lease to the Body Corporate.

The rental payable under the subleases will be nominal (FJ$1.00 per annum) and the rental payable under the head lease to the Body Corporate (which will be passed on as part of the body corporate levies on a pro-rata basis according to the relative values of the apartments) will be less than FJ$200 per annum per owner.

Does Golf Terrace Apartments come under Denarau Corporation?
An integrated resort structure was established for Denarau Island under the auspices of Denarau Corporation Limited which acts as the overall body corporate for Denarau Island Resort in accordance with the structure that has been established. The major areas of work include overseeing the maintenance of the common areas, ensuring access rights (and hence there are no easements), development controls and working on matters affecting the overall resort.