Undercurrent Article June 3, 2009

   Beachfront Property on St. George's Caye, Belize   

"Diving off Saint George's Caye is as good as it gets in Belize..."

Undercurrent -- Consumer Reporting for the Scuba Diving Community since 1975 -- www.undercurrent.org

Belize Island Beachfront Acreage Available: As Undercurrent has often reported, diving off Saint George's Caye is as good as it gets in Belize. Protected by the Barrier Reef, the nearby reefs are in fine shape with little diving pressure, though it's only a 20- minute boat ride from Belize City. Fred Good, who built the venerable Saint George's Lodge (one of our favorites) in 1977 and sold it in 2004, called to tell us he is selling a large beachfront parcel on St. George's. It's about three acres with 900 feet of beach frontage. It could accommodate a dive resort, up to three family compounds, or be subdivided into 12 building lots, and Fred is willing to actively consult or project-manage because he has already "been there" and "done that." There's a photo of the land above. For more photos and details, click on www.belizebeachfrontproperty.com

Copyright © 2009 Undercurrent (www.undercurrent.org) 3020 Bridgeway, Suite 102, Sausalito, CA 94965. 800-326-1896 or 415-289-0501. All rights reserved

---

Is any of this property now available for sale? Yes, absolutely. The entire property is now available.

Are individual lots now available for sale? Sorry, not at this time.

After the above 3 June 2009 Undercurrent write-up was published, we received several inquiries asking if we are prepared to sell individual lots. While we of course appreciate such inquiries, we are not currently able to sell lots, because our subdivision plan has yet to be approved.

Details follow:

1. We can now sell the entire parcel of land, but cannot sell individual lots.
   
   
2. We have applied for permission to subdivide this parcel, but that application has not yet been approved by the Belize government.
   
   
3. We do anticipate that our application to subdivide will be approved, but do not know how long this might take.
   
   
4. Our preference is to sell the entire parcel and not to develop it ourselves.
   
   
• If a developer purchases the entire parcel and then subdivides it, this is very likely to benefit those who then purchase the individual lots. This is true, because a responsible developer is almost certain to offer assistance with designing and erecting houses, designing and implementing landscaping plans, and designing and constructing dock facilities. All of these functions can be far more efficiently undertaken when the efforts are coordinated, as opposed to when they are performed by the lot owners individually.
  
  
• A developer might also elect to offer community electricity and water, as well as maintenance and security services.
  
  
• Even if the developer were to build a resort, it would still be quite likely that any lot owner would be able to utilize the services of that resort, such as diving, fishing, or even town and airport transfers, all of which might be beneficial to the lot owner. Likewise such a situation would be likely to increase the value of the individual lots.

At this time we plan to take contact information from those who have expressed interest in purchasing lots and to pass that information on to whomever purchases the property. If the property is not sold in a reasonable period of time, and the subdivision has been approved, we will very likely undertake to develop the subdivision ourselves. At that time, we would of course attempt to contact everyone who has expressed interest in purchasing lots, giving them preference whenever possible.