SOLD – St. George’s Caye Property

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.