For sale: Luxury waterfront apartment block on Uduya Point, Lami Photo: RAINE & HORNE
By ROSI DOVIVERATA
Castle Properties Limited is seeking $5 million from the sale of their luxury apartment block at Uduya Point, on Suva Harbour.
Built in 2004, the waterfront apartment block accommodates two penthouses and seven units.
Marketing agent, Keni Dakuidreketi, of Raine and Horne, said the property has been out in the market since the beginning of April.
Exclusivity
The property is located in an exclusive neighbourhood.
An unobstructed view of the sea and Suva is what you’ll wake up to every morning. Right on the water’s edge, the seven apartments are fully furnished with an elevator providing access to the upper levels.
Mr Dakuidreketi said some tenants have been there for some time, giving credence to its attractiveness. Most tenants are corporate or diplomatic clients.
Recently, there has been a regular uptake for up-market homes and the prices tend to be on the rise.
Mr Dakuidreketi said this is a simple function of demand outstripping supply. Good properties will not last in the market if they are priced right.
He also noted that there hasn’t been any new subdivision in Suva offering properties at the top end of the market.
“A static supply price will definitely be affected as buyers focus on the secondary market, buying existing homes and doing them up.”