SUBJECT PROPERTY BRIEF

The subject property (130 acres) is located in the immediate area of the Philip Goldson International Airport, Belize City, Belize, and Central America. This property is the largest undivided area of land within the International Airport area and has direct frontage along and access to the “Philip Goldson International Airport Access Road”. The subject property has approximately 4000 feet of frontage on the Belize River. This scenic and navigable river is the fresh water source for the nearby soft drink factory and brewery illustrating its protected status, good environmental health´ and potential as a fresh water source for the property. Access to the nearby Caribbean Sea using the Belize River is only minutes away. The property as a whole offers a broad range of development and conservation possibilities in a location that combines security, transportation/access and scenic beauty. The land is uniquely situated on the `fringe´ of the International Airport of Belize property. The land area will support a sophisticated mix of residential and commercial development while adhering to the best of environmental principals. The combination of easy access to and from the Belize International Airport as well as the rest of the country, makes the property location an ideal point of entry, departure or end use destination for persons visiting Belize for business or pleasure and for those persons living in Belize.

120 ACRES NEAR INTERNATIONAL AIRPORT (Click image to enlarge)

CURRENT VALUE

The most recently conducted review of available land for sale in the airport area proper indicates there is active interest in the land near the International Airport but acreage available for purchase remains scarce. The only land actually on the market for sale, is nearby Parcel 60, a 13 acre parcel of land with about 200 ft of river frontage. The land is being offered for ($2,500,000.00 USD´s) or about ($192,000.00 USD´s) per acre. These sellers are not speculators. Both owners have owned the properties for many years and in the case of our seller, more than 85 years. The listing price of the subject land is below the market price. Estimates of an appraisal value for the subject property are $10,000,000.00 USD.

Development plans for the Airport include expansion of the terminal and parking facilities. These plans will further limit the nearby property that might have been on the market in the future. A `duty free zone overlay´ on the subject land is a possibility. This would increase the variety of uses and the market value. In such a case it would be prudent to select a suitable area and sell commercial lots not acres. Given the airport expansion plans, the new political climate and the general interest in Belize investment opportunities

ACCESS

The subject property has direct and ample access to the Philip Goldson International Airport Road, the newly constructed roadway built exclusively for the International Airport and a few nearby properties. An all weather road connecting the Philip Goldson International Airport Road and the Belize River’s northern bank runs directly through the subject property The subject property controls 100% of the frontage on both sides of this all weather roadway. I am aware of past discussions concerning the possible construction of a bridge and an alternative access road, through the subject land using this roadway easement to approach the International Airport from the Western Districts and bypass Belize City. I am not aware of immediate plans to build such a bridge and highway. The roadway now provides the owner with a very well constructed access road through the middle of the subject land. The subject land also has over 4000 feet of frontage on the navigable Belize River. This frontage offers direct links to the Caribbean Sea and up-river locations offering a variety of secondary transportation links. The 66 foot river reserve does not prohibit use of the setback for a variety of non-permanent uses including docking facilities. The airport terminal facility is clearly visible from the property and using the Philip The property has excellent existing access from air, roads and water.

120 ACRES NEAR INTERNATIONAL AIRPORT (Click image to enlarge)

ZONING

There is no formal zoning code affecting the property and permitted uses include commercial, residential and agricultural. There are currently restrictions on the use of the property for livestock grazing and there would be a height restriction on construction; both restrictions are the direct result of the proximity of the Philip Goldson International Airport and safety factors. The Government of Belize, the Commissioner of Lands and other officials have been supportive of development on the subject property as long as proper procedures including environmental are applied.

TOPOGRAPHY

The subject land is basically flat with some lower variations due to the seasonal flow of water in specific areas of the property. These areas, affected by water, are consistent in location over time. These areas do not adversely impact the suitable building sites or access points and will be useful in storm water management plans and as conservation /open space areas as required under most plan approvals. The overall topography and lay of the land lends itself well to development. There is ample high ground suitable for large and small scale development with excellent access to all portions of the land.

SOILS

The soil composition of the subject land is suitable for building. The nearby Airport facility and nearby luxury homes offer an example of the variety of construction types that the soils in this area of Belize can and do support. Consultants walked the land and stated that the soils in the subject property do not present an unusual challenge to the plans I presented. It was further stated on several occasions by a consultant that the subject property offered a wide variety of building sites and each would individually require clearing, grading and appropriate site preparation as was the normal procedure for successful construction in and around this area of Belize and Belize City. The soils in the property will not diminish the prospect of vertical development.

Priced at US$2,500,000.00

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