Sealed Bid Auction Of Large Land Tract In Belize Underway

9 Nov, 2006, Belize

An auction of nearly 17,000 acres of prime coastal property in Belize, Central America, will commence today, culminating in a sealed bid opening on December 11. Situated less than seven miles from the Belize international airport and a half hour drive from Belize City, the property encompasses several separate tracts of land with incredible potential for either residential or resort development.

This once-in-a-lifetime purchase opportunity is being offered by property owner Mayan Plantation Limited, utilizing the Houston office of Cushman & Wakefield as its exclusive agent. Gerhart Walch, Chairman of Mayan Plantation Ltd., said today “we hope to attract a broad range of bidders for this land from throughout the world. This property offers the potential to create a world class development that will be centerpiece of Central America, while benefiting the land owner and the people and nation of Belize.”

Stretching along 15 miles of oceanfront and 40 miles of combined lagoon shoreline, the land offers amenities such as a barrier reef for diving excursions, fly fishing and incredible adventure tourism opportunities. In addition, there are numerous Mayan ruins on the property and one of the country’s primary Mayan attractions, Altun Ha, is located only minutes away. Moreover, the development process is eased by the close proximity to the airport, the national highway, national power and water lines along the western border of the land, and water wells throughout the property providing potable water.

Belize is the only English-speaking country in Central or South America and a part of the British Commonwealth of Nations. In recent years, the government has begun creating tax incentives to stimulate the growth of tourism in Belize. Last year, more than one million visitors came to Belize to take advantage of the weather, hospitality and diversity of Belize. This was nearly a thirty percent growth from just five years earlier, despite the fact that Belize still does not have a major international hotel chain or golf course operator.

Mayan Plantation is offering two tracts of land in their bid. Minimum bids are calculated by tract configuration. Bidding for Tract A, a 920-acre piece of land along the ocean, begins at $2 million US dollars. Tract A is already subdivided resort/commercial with ingress/egress, utility access, and development plans from the international resort design firm of Wimberly Alison Tong and Goo. Tract B, directly to the north and west, is a 15,960-acre spread with excellent potential for marina, residential, resort and golf course development and will be offered in absolute sale with Tract A, starting at $10 Million US Dollars. Tract B is also subdivided for mixed use (resort, residential, commercial with easy access to the rest of the country).

In addition to the two offered parcels of land, Mayan Plantation Ltd. Also owns a third tract, consisting of more than 15,000 acres directly to the north of Tracts A and B. This parcel contains thousands of acres of hardwood tropical forests, as well as another thirty miles of private lagoon and oceanfront property for resort development. While not currently listed for sale, about 11,000 acres of this property could be available to the right buyer or joint venture partner.

Cushman & Wakefield is the world’s largest privately held real estate services firm with 195 offices in 55 countries around the globe. The Houston office of Cushman & Wakefield stands ready to assist any potential buyer of the Belize property with supporting documentation. Cooperating brokerage firms, which can realize a three percent (3%) commission, are welcome to participate in locating potential buyers.

For more information on this exclusive offering, or to receive auction documents, interested parties should contact H. Frank Stanley, B. Kelley Parker or John F. Littman at 713-331-1800. Documents and information about the auction and details about the property can also be found at www.Belizea.com

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