Resort Appraisal
A comprehensive
appraisal of the Resort was completed on January 20, 2007. It was performed by Talbert W. Brackett
Sr., an eminently qualified and
credentialed Appraiser or "Valuator" schooled at the University of
Technology, Jamaica West Indies and the University College of Belize.
His appraisal
determined the fair market value of Seven Seas Resort to be $3,000,000.00 US Dollars.
Property values have
been escalating in San Pedro Town and all of Ambergris Caye for over 10 years
with no end in sight. Condominiums are
being sold (and presold) as fast as developers can build them.
Recently the magical 3
story limit on buildings was exceeded with the approval of a 4 story project on
the south end of the island and they are now springing up all over the
island. The legal ability to go one
story higher had the immediate effect of raising ALL property values on
Ambergris Caye and developers know it is only a matter of time before the
height restrictions will be dictated only by Engineering data and with
Ambergris Caye being situated on solid rock, the sky is the limit.
TALBERT W.
BRACKETT SR. 191 Corner
Maurice Bishop Street & Jackfruit Crescent Belize City,
Belize 20th January, 2007 Mr. Bill Wilkinson Seven Seas Resort San Pedro Town Ambergris Caye Belize District Re: Report And
Valuation On Parcel 1263, 1262 & 3977/1, Block 7, San Pedro
Registration Section, San
Pedro Town, Ambergris Caye, Belize District, Belize
Dear Sir, At your request, I have examined the subject property in question for estimating the market value as of the 20th day of January, 2007. The Property rights valued are those of the unencumbered fee simple estate and interest. This medium accompanies an attached Valuation Report, which is subject to the qualifying and limiting conditions contained therein. I have personally inspected the subject property and
considered all available factors affecting the property value and do
determine a fair market value of the existing property to be “SAY” THREE
MILLION DOLLARS ($3,000,000.00) UNITED STATES DOLLARS. The attached report contains data gathered in the course of my investigation which is true and correct to the best of my knowledge and belief. Respectfully submitted ____________/ signed /___________ TALBERT W. BRACKETT SR. Appraiser: Dip. Levs.
(Utech, Jamaica W.I.) Diploma,
Land Economy And Valuation Surveying University
Of Technology, Jamaica West Indies Paralegal
Certificate University
College Of Belize Belize
City, Belize C.A. |