lapita plantation resort - northern vanuatu real estate · this is a rare opportunity to invest in...

INFORMATION MEMORANDUM: LAPITA PLANTATION DEVELOPMENT SITE

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LAPITA PLANTATION RESORT

(AORE ISLAND, VANUATU)

INFORMATION MEMORANDUM

JANUARY 2017

CONTENTS Disclaimer...................................................................................................................................................... 2

Background ................................................................................................................................................... 3

History of Lapita Plantation ...................................................................................................................... 3

Land Ownership and Leasehold ................................................................................................................ 3

Land Title Security ..................................................................................................................................... 4

Strata title developments ......................................................................................................................... 4

Existing Assets and Structure ........................................................................................................................ 5

Waterfront Lots ..................................................................................................................................... 5

Water View Lots .................................................................................................................................... 5

Plantation .............................................................................................................................................. 5

Managers House ................................................................................................................................... 5

The Opportunity ............................................................................................................................................ 6

Expression of Interest ................................................................................................................................... 6


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Disclaimer This information memorandum has been prepared by PLN Australia on behalf of Aore Island Limited (AIL) trading as Lapita Plantation Resort.

This information memorandum has been prepared to seek interest to acquire up to 100% of the shares in AIL ('Shares').

The sole purpose of this Memorandum is to assist the potential investors in evaluating the possible purchase of the Shares.

This document does not constitute an offer or contract of sale or any part of an offer or contract of sale. It is intended only as a guide and aid to further investigation by potential investors. This document does not purport to contain all the information that potential investors may require to evaluate and analyze the investment opportunity. Potential investors accept this document on the condition that they will make their due diligence inquiries, investigations and obtain their own independent advice to verify the accuracy of the information presented in this document. Reliance on this document and related information is solely at the risk of the potential investors.

The content of this document is derived from, in part, from the principals of AIL and other sources and may be based on assumptions. In passing this information on, the principals (including their representatives) do not warrant that such information or assumptions are accurate or correct. The potential investors will not hold the principals (including the representatives) liable in any manner whatsoever under any cause of action including negligence for any loss, or seek relief or sue in any manner by reason of reliance upon this document or related information.

No representation, warranty or guarantee is given in relation to future matters or performances, budgets, forecasts, marketing or industry developments whether or not reference is made to these matters in this document or any other source. All references made to these matters reflect only the judgment considered appropriate by the principal and the representatives at the relevant time.

Without limitation to the above disclaimers, the principals (including the representatives) of the property will not be liable for any loss whatsoever arising from any unauthorized use or reliance on this document.

Any questions regarding the Memorandum and the sale of available shares should be directed to: VANUATU AUSTRALIA GENERAL INFORMATION Matthew Woon John Ridgway Maximilian von Schwerin Lapita Plantation Pacific Legal Network Lapita Plantation Phone: +678 7789949 Phone: +61 410 520 416 Phone: +61 429528488 Email [email protected] Email [email protected] Email: [email protected]

mailto:[email protected]




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Background

History of Lapita Plantation

The background information regarding Lapita Plantation, formerly known as Peyrolle Plantation, has

been provided elsewhere.

Land Ownership and Leasehold

People who are not Ni-Vanuatu, that is, all people who are not of Melanesian descent from Vanuatu, are

only permitted to hold tenure over specific properties by the arrangement of legally documented lease

agreements with the ‘true’ custom owner.

These leases, requiring approval by the Department of Lands and Vanuatu Investment Promotion

Authority (VIPA) may run for a maximum of 75 years, so determined by the lifespan of a coconut palm.

The overall aim of the Government policy is to create and foster economic growth. To date, the

government of Vanuatu has achieved a track record of reasonably sound economic management with

an emphasis on financial stability.

Vanuatu encourages foreign investment, and to do so the Government enacted a Foreign Investment

Act 1998 to create a favourable environment for private sector investment.

The Act provided for the establishment of the Vanuatu Investment Promotion Authority (VIPA) which

encourages the formulation of a transparent and open investment environment as well as faster

processing of the investment applications. For example, investments in developments that are likely to

create local employment are sometimes provided with an import duty discount or exemption.

New investors require approval from VIPA before establishing a business in the country. This

requirement involves the completion of the Investor Application Form, which is then submitted to the

VIPA Secretariat. The average period of time involved in processing an investment application from the

point of submission to final approval is three weeks. Foreign investors are expected to comply with the

relevant local legislation. The Investment Division of the Department of Trade, Industry and Investment

monitors approved projects for compliance.


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Land Title Security

Lapita Plantation was located on leasehold title reference 04/3033/005

Land registration in Vanuatu is via a "Torrens title system" (much like most 'first world countries') and,

once registered, title is 'guaranteed.'

The title to Lapita Plantation is registered, and therefore has the benefit of this legislative guarantee. In

addition, the Supreme Court has upheld the validity and enforceability of the lease for Lapita Plantation.

Strata title developments

Vanuatu is one of the very few Pacific Island jurisdictions to permit strata title development.

The creation of strata developments such as the Lapita Plantation is consistent with the Government's desire to promote and enhance private sector growth and development in the rural sectors of Vanuatu.

As at 2007 the Lapita Plantation subdivision (under the Strata Titles Act No. 29 of 2000) offers a lease period of 73 years, with an agreed option to renew as authorized by the custom owner.

The salient details of the lease and the strata plan are as follows:

Lessee: Aore Island Limited

Term: Remainder of term is 73 years

Strata Plan Registration Date: 20 January 2006

Strata Plan Registration Number: 0004

Permitted Use: The permitted uses of the land lots which comprise the strata development vary between the residential land lots, tourism and commercial land lots

Attached as Annexure 1 is a copy of Strata Plan 004 for the Property.


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Existing Assets and Structure

The core assets of AIL arise out of the successful strata development of the Lapita Plantation. These assets can be divided into the following categories:

(a) Hotel sites, including one site with a partially completed resort over which the owners of AIL have the rights to sell,

(b) 203 residential land lots, and

(c) Residual Lapita Plantation

Waterfront Lots

92 lots, 31 are improved, and 61 lots are unimproved

Water View Lots

98 lots, 30 are improved and 68 unimproved

Plantation

Lot 207 is the Plantation with a total area 682 acres, including 50 meters of deep waterfrontage and with approval for further subdivision of over 600 1 acre commercial/tourism residential land lots

Wharf, staff quarter, machinery, cattle/copra and bar, shop and administration building to lock

up stage.

Managers House

This is contained on Lot 9 and is a two-bedroom beach front villa


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The Opportunity THE OPPORTUNITY IS VAST. The acquisition of a key interest in part of or the purchase of the whole of the interest of AIL in Lapita Plantation would enable the buyer to undertake any or all of the following –

The development of any of two of the hotel sites on the strata plan of subdivision, including the approval for comical and tourism,

The sale of the individual strata lots internationally, and

Approval to develop the lot 207 and over another 600acre Lot in lot 207(the plantation)

Expression of Interest

Interest is sought to acquire up to 100% of the interests of AIL in Lapita Plantation.

Surrounded by aquamarine waters with some 700 acres of lush green coconut plantation Lapita’s luxury resort and residential land and villa and land development covers the entire western portion of Aore Island.Lapita Plantation has around 6 km of coral fringed coastline that feature pristine white sand beaches, graceful coconut palms and warm tropical waters. The entire Lapita development embraces ecologically sustainable development principles and commitment to architectural harmony taking in the natural beauty of the surrounding islands and tropical environment.Pekoa International Airport on Espiritu Santo is only 20 minutes away.

What is Lapita?Lapita is a managed estate that will consist of private residential land holdings, three resort developments, one of which will include an international standard 9 whole golf cause, driving range and private runway.The developments layout has been thoughtfully designed to provide just the right amount of luxury and seclusion while providing a relaxed tropical resort community atmosphere.Residential Land Packages: comprising a limited number of magnificent waterfront and tropical water-view allotments for discerning purchasers who desire complete privacy and independence.

Welcome to LapitaLapita is an eco-friendly residential/resort development located one of the most beautiful tropical coastlines in the South Pacific.

Buy Waterfront Land in Vanuatu & Create your Dream Island RetreatThis is a rare opportunity to invest in real estate in Vanuatu. Lapita Plantation sits on the coastal fringe of Aore Island, Vanuatu and offers various real estate options.Buy a waterfront or water-view block of land & build your own dream home. Alternatively buy one of Lapita’s architecturally designed resort villas and enjoy resort living as well as your own private paradise.Starting from US$267 per month – your island dream is affordable and is a once in a lifetime opportunity.

An investors dreamPurchasing land or a villa and land package in Lapita not only gives you your own slice of paradise – it also represents an astute investment opportunity. Vanuatu real estate is becoming increasingly rare, and with quality accommodation in the region being limited, the resort operators will work to generate accommodation income for you. These elegant and idyllically located properties represent some of the premium houses for sale in Vanuatu.

Once in a lifetimeAlways dreamed of owning a holiday house in Vanuatu? Now is your chance! Real estate in Vanuatu is quickly disappearing, once the Lapita Plantation allotments have been sold there will be no other land available in Vanuatu or anywhere in the South Pacific. Seize this rare opportunity to own an extraordinary piece of waterfront real estate in Vanuatu before it disappears forever.

Live the Life ExoticInvest in some of the most beautiful waterfront real estate in Vanuatu and live out your island dreams. It is easy to understand why houses for sale in Vanuatu are so rare. With sun drenched white beaches and vibrant coral reefs teeming with sea life, Lapita typifies the exotic beauty of the South Pacific. Choose from several blocks of land with our luxurious one and two bedroom villas or envision and build your own architectural fantasy. With several options available, your real estate in Vanuatu can be whatever you envision it to be.

What makes Vanuatu so beautiful?With blushing sunsets, whispering palms, forests, seas and skies the color of precious jewels, Vanuatu is the stuff of fantasies.The subdivision of the coastal fringe of Lapita Plantation on Aore Island offers astute investors a unique opportunity to share in a luxury tropical lifestyle that others can only dream about.Once the Lapita Plantation allotments have been sold there will be few other similar blocks of land for sale in Vanuatu or anywhere in the South Pacific offering the exceptional attributes of Lapita Plantation. What makes the Lapita Plantation so extraordinary is its unrivalled natural beauty; the effortless access from major Australian and New Zealand cities; and the relaxed lifestyle. Land for sale in Vanuatu is an increasingly rare thing, this is an opportunity not to be missed.

Buy a waterfront allotment & build your own dream propertyFor those wishing to purchase land to build their own bungalow we have made available a limited number of waterfront allotmentsKey Features:

■ All allotments are within meters of the beach ■ All have 30-40m frontages onto white sand beaches

adjoining clear tropical waters brimming with colorful coral and marine life

■ Each is slightly elevated allowing a view over the Second Chanel towards the Cumberland Mountain Range on Espiritu Santo.

■ Each has been selectively cleared, ready for construction of your dream home.

Buy a resort villa & let us manage it for youLapita Blue consists of 8 beach front lots (only 4 remaining!) adjacent to the new Calypso resort.Key Features:

■ Have the best of both worlds – your own private paradise plus all the facilities of a world class resort.

■ Villas are architecturally designed one (78.5m sq) or two bedroom (156m sq)

■ These blocks can be re-subdivided in to 4 lots for a small villa development – keep one, sell one or run your own resort

GETTING TO LAPITA

FlightsThe refurbished Pekoa International Airport on Espiritu Santo is only 20 minutes from Aore, means Lapita Plantation is readily accessible by air.A number of international airlines service Pekoa International, with Air Vanuatu who code share with Qantas having direct flights from Brisbane and Sydney, 2.5 and 3.5 hours respectively.Regular flights from New Zealand, Fiji, Solomon Islands, Australia and New Caledonia fly into Port Vila with scheduled connecting services to Santo.

From the AirportTransfers to Lapita from Pekoa International are effortless. Regular taxi service from the airport takes only 10 minutes to ‘Lapita Landing’ in Luganville for a quick boat trip across the Segond Channel to your luxury private villas and secluded island retreat.

Location of LapitaSitting on the same latitude as Port Douglas in Australia, across 1700 km of open Coral Sea, the same distance as Port Douglas is to Brisbane, is Vanuatu’s Aore Island. This is the heart of James Michener’s Adventures in Paradise. Arguably one of the most beautiful of all South Pacific islands, Aore is enuinely unique. Not only due to its unsurpassed natural beauty and pristine marine environment, but also the warm friendly smiles of the local Ni-Vanuatu people, the balmy tropical breezes and the wild native orchids.Located in the northern Sanma Province and sitting at the foot of Vanuatu’s largest island,Espiritu Santo, Aore has a tropical ambience that words alone cannot describe: gently swaying palms; pristine white sandy beaches; luxuriant vegetation; tropical marine corals and, a myriad of colourful fish species. Added to this are sunsets that simply take your breath away.

TaxationVanuatu has no income or capital gains taxes. Tax revenue extends from:(a) Import duties- which can be considerable and result in imported goods being very expensive.(b) 12.5 % Value Added Tax (VAT) on goods and services. This is equivalent of the GST collection system in Australia and New Zealand.Economic development is hindered by dependence on relatively few commodity exports, vulnerability to natural disasters and long distances from main markets and islands.

Foreign InvestmentThe overall aim of the Government policy is to create and foster economic growth. To date, the government of Vanuatu have achieved a track record of reasonably sound economic management with an emphasis on financial stability. Vanuatu encourages foreign investment, and to do so the Government enacted a Foreign Investment Act 1998 to create a favourable environment for private sector investment.The Act provided for the establishment of the Vanuatu Investment Promotion Authority (VIPA) which encourages the formulation of a transparent and open investment environment as well as faster processing of the investment applications. For example we understand that investments in developments that are likely to create local employment are sometimes provided with an import duty discount or exemption.

LOT LOCATIONS

Have you ever dreamt of creating your own island hideaway? The time is now...

t: (678) 777 1426 - [email protected]

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Lot number

Waterfrontage (m)

Land area (m2)

Price US $

8 124.82 32,858 $956,250 resort site9 34.14 1246 SOLD10 29.96 1245 UNDER CONTRACT 11 30.02 1216 $100,65712 30.28 1210 $100,92313 30.65 1124 $102,15614 30.2 1063 $100,99015 37.06 1122 $123,52016 31.36 1067 $104,52317 31.1 1087 $103,65618 30.16 1178 SOLD19 30.2 1178 SOLD20 30.28 1173 SOLD21 30.68 1220 SOLD22 30.09 1302 SOLD23 30.33 1341 $101,09024 29.78 1525 $99,25725 31.67 1411 $105,55626 34.53 1240 $115,08827 33.48 1240 $111,58928 30.92 1291 $103,05629 30.27 1378 $100,89030 30.07 1270 $100,223169 563.55 49,345 $1,125,000 resort site

PRICE LIST - Waterfront Blocks



PRICE LIST - Water-view Blocks



Lot number Land area m2 Price US $

206 1206 $60,300205 1272 $63,600204 1204 $60,200203 1019 $50,950202 1019 $50,950201 1200 $60,000200 1200 $60,000199 1262 $63,100198 1148 $57,400197 1117 $55,850196 1203 $60,150195 1201 $60,050194 1458 $72,900193 1378 $68,900192 1477 $73,850

191 1112 $55,600

Matthew WoonMANAGING DIRECTOR

Lapita Plantation Aore Island Tel: Vanuatu +678 777 1426 / 547 7316Skype: matthew.woon email: [email protected]



lapita plantation resort - northern vanuatu real estate · this is a rare opportunity to invest in...

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