Alternative Uses

Alternative Uses

There are numerous ways in which this property could be productively utilized.

1. Resort

This is one of very few properties, located within 8 miles of Belize City, that contains both enough acreage and enough beach frontage to make building a resort reasonable.

Please note: Saint George's Caye Resort (http://www.gooddiving.com), formerly know as "SAINT GEORGE'S LODGE", which lies less than a quarter (1/4) mile to the south of this parcel, has both less acreage and less beach frontage than this parcel of land. This is quite relevant because Saint George's Lodge has operated successfully as a scuba diving lodge for more than 30 years.

2. Timeshare

With approximately 900 feet of beach frontage and almost three acres, these two lots could be subdivided in numerous ways. One possible subdivision plan would be the one shown on this site labeled "A Possible Subdivision Plan". On this plan 12 lots are shown. Three lots which each contain more than .27 acres and more than 72 feet of beach frontage lie to the east, five lots which each contain more than .21 acres and more or less 59 feet of beach frontage lie to the south, two lots which each contain .16 acres and 58 feet of beach frontage lie to the west, one lot that contains .16 acres if land and 267 feet of beach frontage is located at the southwest corner, and there is one remaining lot of .20 acres which contains no beach frontage.

One possible pricing plan for these 12 lots is presented at the bottom of this page. If all lots were sold at the prices presented, the total revenue would be USD $1,968,000. But, more importantly, this is just a portion of the profits that whoever might developed this acreage in this manner could reasonably expect to realize. Whoever sells these properties would almost certainly be able to build houses on these lots for the new owners. Likewise, it would be quite normal for anyone selling the properties on this basis to also contract to maintain these lots over time and to even rent the properties out on behalf of the owners in return for a percentage of the rental income thereby realized.

3. Resort / time share combined.

It would be quite feasible to develop a resort on lots 1,2, 3, 4 and 5 and to simultaneously develope lots 6 - 12 as time shares, under one coordinated plan. This approach would quite likely work very well for all concerned. Under such a plan, the resort would have access to additional accommodations without having to bear the expense involved in constructing these facilities. Likewise, the resort would realize additional income as a result of building, maintaining, and renting out the houses which would be built on lots 6 - 12. The purchasers of lots 6 - 12 would benefit through such a plan by having an income stream, monthly maintenance, as well as security available.

4. Family compounds

This land could be divided into two or three family compounds quite nicely.

If divided into three family compounds, most logically it would be divided as follows;

• Family compound #1... Lots 1, 2, 3, and 4
• Family compound #2... Lots 5, 6, 7, and 8
• Family compound #3... Lots 9, 10, 11, and 12

If divided into two family compounds, most logically it would be divided as follows;

• Family compound #1... Lots 1, 2, 3, 4, 5, and 6
• Family compound #2... Lots 7, 8, 9, 10, 11, and 12

Family compounds have become increasingly popular of late and this property is large enough to serve this purpose quite well.

To utilize this property for family compounds, it would be possible to take one of two approaches. One could modify the possible subdivision included on this site such that the family compounds would be accommodated before a subdivision request had been granted final approval by the Land Utilization Authority. Or, one could simply submit a request that the possible subdivision here included be granted as shown, and then, after the subdivision has been approved, purchase those lots of which the various family compounds will be comprised. The later approach would have the advantage that dividing the property later on would not then be required.

Aspects of the subdivision plan that is posted on this site that appear to be quite advantageous include;

1. Lots 1, 2, and 3 are almost identical in both size and shape.
   
   
2. Lot 4 has a more or less "rectangular shape".
   
   
3. Lots 5 - 9 inclusive all contain almost exactly the same dimensions. Are five of these lots contain more than .21 acres. Lots 6 - 9 all have exactly the same amount of beach frontage (59.02 feet) and lot 5 has just 3% less beach frontage (57.17 feet) than lots 6 - 9.
   
   
4. Lots 5 - 9 have access to the eastern portion of the island by way of the footpath that lies on the northern boundary of each of these properties. They also have access to the sea that lies to the south of each of these properties and can reach every other lot in the subdivision by using the footpaths that run along the north and south boundaries of the property. It is true that this walkway to the south might ultimately be redundant. However, given that these are quite large lots, and given that both footpaths are easily accessible to lots 5 - 9, I am comfortable that the lots not will "feel" that they have lost the land that has been dedicated to these two footpaths. Further, it is quite likely that both of these footpaths will in fact be used very little and there is every reason to expect that the owners of lots 5 - 9 will "feel" that their lots in fact measure 59' x more or less 186' regardless of the true legal dimensions of the properties.
   
   
• One can also see that there are two small stands of mangrove that lie to the south of lots 5 and lots 7, 8, and 9. So long as the mangrove that is now present continues to stand in this portion of the reserve, if no footpath were provided, lots 5, 6, 7, 8, and 9 would not have ready access one to the other, because it is now impossible to walk along the southern boundary of these properties on the reserve. (It is anticipated that the mangrove that lies to the south of these properties will soon die as a result of the recent dredging, although it could take several months for this to evolve...) The same situation exists along the western edge of lots 10 and 11, except that the mangrove in that area lies more than 40 feet to the west of the western boundaries of these two lots and therefore presents no obstruction to the owners of lots 10, 11, and 12 from having free access to all adjoining lots in that area.
  
  
5. Lots 10 and 11 are the smallest on the plan. However, on the ground, the "feel" of these two lots is that they are really quite generous in size. Even though one can see the corner posts of these properties, it does not "feel" as though the properties end until the eye reaches the mangrove that lies to the west. Thus, lots 10 and 11 "feel" as though they measure 60' x 163' which would be .22 acres just like lots 5 - 9. While this alleged "feeling" might not be all that "scientific", it can easily be confirmed by anyone who visits these lots.
   
   
6. Lot 12, is of course beautifully situated. It already features a beautiful beach to the west that is totally devoid of mangrove.
   
   

Pricing Schedule for the Subdivision

One possible pricing scheme for the 12 lots might be;

Using the above percentage assumptions the total sales price of the lots presented in this project would be 9.9 times the value of lot 1.

Thus, if lot 1 is expected to sell for USD $199,000 the total income to be realized through lot sales alone would be USD $1,970,100.

Let's look at the pricing of the individual lots to see if these prices seem reasonable;

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