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Resort Development Opportunity

Coral Springs 960 Acres (388 ha) on Jamaica’s North Coast 40 minutes Drive from Montego Bay’s International Airport


Coral Springs Development Area Trelawny, Jamaica

Airport

White Bay Harmony Cove Coral Springs

Dry Valley

Location of the Properties

Coral Springs 350 Ac

New Court 283 Ac

White Bay 88 Ac

Coral Springs Development 168 Ac

12 Ac

Boundaries

62 Ac


Coral Springs Trelawny, Jamaica Due to different individual reasons a large contiguous tract of land has become available for sale. able

These 5 properties could afford a major resort

development

site

to accommodate

hotels,

a golf

development,

nature eco tours and possibly a marina.

course,

villa

Total size in

approximately 960 acres. The area is located on the North Coast Highway, and east of the town of Falmouth, in the parish of Trelawny.

The property is within 40 minutes

drive from the Montego Bay International Airport. The Falmouth Cruise ship pier is due to be completed 2010.

by the end of

The port facility will handle the largest cruise ships.

Property Summary

Property New Court

Size (acres) 1257-654

283.00

1257-655 White Bay Coral Springs

697-60

87.60

1399-832

350.00

1399-833

11.70

"62 Acres"

1050-972

62.00

Coral Springs 168

1425-579 1263-154

168.00

1263-155 Total:

962.30


New Court Jamerica Ltd, is owned by a Jamaican family now living overseas.

This property is currently under a

contract of sale to a Jamaican based hotelier who now finds that he cannot develop the land to the density that was first envisaged. He would therefore consider selling.

The property is part of the

Spring Estate and deemed a “Protected Area” by NEPA (National Environmental and Planning Agency). This came about when the North Coast Highway was being planned. limestone forest was taken by the Highway. the land.

The authorities then decided to “protect” the rest of

This protection affects New Court and White Bay only.

In addition, NEPA has particular

interest in the two large mangrove lakes located behind the beach. type of wading bird.

Part of the land, deemed a

These are used by a particular

A detailed development plan was submitted by the hotel developer.

He is

currently in the process of negotiating with NEPA but it is expected that and plan will be severely curtailed.

Coral Springs

White Bay Old road to White Bay

New Court

Burwood Beach (public)

New Court


White Bay

New Court

View east

New Court White Bay

Coral Springs

View south west


White Bay

New Court

Highway

View north

Larger pond New Court

View south of New Court


Proposed development for New Court NEPA have not said that there cannot be any development at New Court.

The submitted plan

(above) did not receive favour due to the density of development, although all the buildings were to be low rise. It could be expected that if New Court were part of a larger development plan that this property could be used for limited villa development on the ridges stretching from White Bay into New Court, and the area around the ponds be used for eco-tourism purposes

White Bay White Bay, also being part of the “protected area� of Spring Estate, somehow was able to obtain development approval for a Hotel/Villa resort complex of 191 rooms (see NEPA Approval attached).


The restrictions however are that the limestone forest to the higher sections of the property (to the eastern boundary with Coral Springs).

Effectively, some 50% of the land area cannot be developed.

The access to White Bay was via a parochial road running from Burwood Beach, east, along the coast in front of New Court into White Bay.

This road was destroyed about 20 years ago thus

leaving White Bay with no vehicular access.

Only short remnants of the old road still remain.

The

cost to replace the old road would be in excess of US$1 million, and cut off coastal access for New Court.

The owners of New Court (and the new purchasers) have given written permission for a new

road to be cut through the New Court land, away from the beach. shared equally.

Costs of such a road would be

However, if both properties were to be acquired by the same new owner the road

access would not be an issue.

New Court

White Bay

White Bay


White Bay beach view east

White Bay beach view west


Coral Springs Coral Springs, although sharing its western boundary with New Court and White Bay is not affected by the protected area restriction that affects the properties.

According to NEPA there are no

environmental issues that would restrict development. The white sand beach is sheltered by the reef approximately 200 meters offshore.

The water is

shallow and protected by this reef. Behind the beach is the location of the old salt mine. section that many years ago was used to mine salt from the sea.

This is a

To collect the salt the “ponds”

were flooded and the inlet then closed; the sea water dried out and the salt was taken out.

These

salt ponds are still in place and could be utilized for a number of uses (marina, recreation).

The

white sand beach extends approximately 3,000 feet (900 meters) along the coast.

Behind the

ponds the land rises to afford development land with sea views. Access:

Currently the access road is shared by the land to the east (“62 Acres”) and is located

through the existing housing scheme.

If development were to take place this access would be

unacceptable and a better route would have to be found through the 168 acre development land lying between Coral Springs and the North coast Highway.

If both properties were owned by the

same entity the access would not be an issue. Additionally, under a separate Title is a 12 acre section south of the highway with a fresh water spring on the property.

Coral Springs - View west from the “62 Acre” section


Salt pond

62 Acres

Coral Springs

Coral Springs - view north

Coral Springs

62 Acres

View west showing salt pond


White Bay

Coral Springs

Western boundary of Coral Springs Coral Springs

View north from the Highway


Salt Ponds

View South West of the Beach and ponds

Beach - View west


Beach

View North from the beach - Showing the reef


view East along the eastern section of the beach

View South inland from the beach

Beach - View West


62 Acre Section Historically, this was always a separate Title from the main coral Springs property.

In the mid 2007

a group bought the property to develop it into an exclusive villa development along the lines of the the Tryall property west of Montego Bay.

Soon after acquisition, the group also acquired a 12 acre

section from the eastern boundary of the Coral Springs property - to “straighten up” the boundary line.

This acquisition also took a good section of the beach.

In 2008 a scandal broke when it was discovered that some “500 truckloads” of sand was stolen from the property and sold to some of the Spanish owned hotels near Montego Bay. the beach and the owners decided to abandon their development plans.

This destroyed

In fact today, there is real

no evidence of the loss of the sand as natural currents have brought in more sand.

The once

magnificent beach has been replaced. The environmental profile if this land is the same as with Coral Springs - it is not expected that there would be any negative development issues.

Road access is also shared with Coral Springs.

apart from the cost of acquisition, this section would complete the Coral Springs beach area giving a full mile of white sand beach.

Coral Springs

Approximate outline in Red


View east

View north


View towards the Coral Springs boundary

View west


Topographical plan of the land


Development land - 168 acres This section of the Coral Springs property was the first to be developed.

In the 60’s and 70’s a

development scheme was approved with some of the half acre lots being sold.

This scheme was

then bought out by a company - JAMOMES - who tried to develop the land further with investments from Civil Servants.

The scheme failed and the property now under numerous larger and smaller

Titles was taken over by The Jamaica Redevelopment Foundation who eventually sold the land to Gore Developments.

There were some (around 15) outstanding claims by the original purchasers.

The Jamaica Real Estate Board advertised for these purchasers to come forward. claims.

There were no

Gore has free and clear ownership of the 168 acres under 3 Titles.

During this process, gore also bought 200 acres close to the new Stadium outside Falmouth.

This is

currently being developed and Gore would consider selling the land. It would be expected that there would be no environmental issues associated with this land as it has already obtained development approval.

The western portion could provide an impressive

entrance to the coral Springs property.

New Court

168 Acres

View west


Coral Springs

New Court

168 Acres

Current Right of Way to beach

Vol 1429 Fol 579

Vol 1263 Fol 155

Vol 1263 Fol 155

Vol 1263 Fol 154 Highway to Duncans


Pricing: The various landowners naturally are seeking the best price that the market can pay. Summarised is the expected cost scenario

Property

Price being asked

New Court

$4,500,000

White Bay

$7,000,000

Coral Springs

$27,000,000

"62 Acres"

$8,000,000

Coral Springs 168

$5,500,000 $52,000,000

Coral Springs, Trelawny Jamaica  

Unique 960 acres tract of resort development land within 35 minuted drive of Montego Bay Airport. Extends from the North Coast highway to t...

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