Pondside Development land, Lacovia

Property

FOR SALE

PondsideDry Harbour, part of Cornwall

St. Elizabeth

Property For Sale: Agricultural subdivision - Pondside, Nr Lacovia, St. Elizabeth. Page 1

31 Upper Waterloo RoadKingston 10

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For SaleADDRESS: Pondside, Nr. Lacovia Land known as Dry Harbour, part of

Cornwall, St. Elizabeth.

LOCATION: The property is located on a parochial road 0.30 miles (0.48

km) north of the main road at Lacovia. This intersection is

1.14 miles (1.84 km) north west of the Tombstone corner on the

Lacovia to Middle Quarters main road.

TOPOGRAPHY: The property comprises undulating land generally sloping

up to the north. Approximately half way the land begins to

rise, giving the lots to the rear (north) of the development views

to the south. The raised land to the north is well drained, but to

the south, the land comprises a number of lakes, some natural

and some apparently man made where the water table is close

to ground level.

SERVICES: The area enjoys urban facilities such as domestic water

supply, electricity and telephone. The lots are not individually

supplied with any services, except roads.

ZONING: The area is rural. Residential and agricultural uses exist.

There are no commercial influences.



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CONTAMINATED LAND AND ENVIRONMENTAL FACTORS: We confirm that during our inspection we noted no o b v i o u s

contaminating activity, nor any adverse environmental factors,

on this or adjoining properties that would affect the value. The

area however, appears to be susceptable to the creation of

ponds or small lakes on the level areas. This is probable due

to the rising of an auquifer generated from the hills to the

north.

NEIGHBOURHOOD ANALYSIS: The area is rural, centered around the town of Lacovia, a “one

street” town. There is some residential development off the

main road to the north and south, but for the most part, the

outskirts of Lacovia are mostly in ruinate or used by small

farmers producing cash crops or rearing livestock.

DESCRIPTION: The two Titles have been subdivided into “5 acre” homestead

lots, except a large lot, No. 56 which encompasses the main

large lake. Other lakes are evident across the southern section

of the development. It appears that either some sand mining

has taken place, or the ponds have been extended in some way.

Generally, the land is attractive, with the lakes providing

interesting landscaping. If this property were to be in St.

Catherine, it would be much easier to sell and at a higher price.

Agriculturally, the soils are average, with the tendency to be

more sandy on the level (pond) areas. Up in the hills in the

north the soil has more clay and suitable for most crops.



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Roads: The roads in the southern part of the development are

in fair condition. Usually, for “5 acre lots” it is not required to

asphalt the roads. These are asphalted. However, to the

northern section of the development, where the land starts to

rise, the subdivision road is impassable. Water runoff has

damaged the road extensively. Access to the higher lots is not

possible except by pedestrians. The damage appears fairly

recent

ASKING PRICE: The Holders of the mortgage on the land are asking

J$95,000,000 for the freehold of the land.

POTENTIAL: Listed below are the anticipated prices that the individual lots

could be sold for, excluding selling costs, and with the benefit

of marketing both locally and overseas.

PREVIOUS SALES:



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Lot layout [Source - National Land Agency] Unsold lots in blue



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Lot layout [Source - National Land Agency] Sold lots noted



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Lake on lot 56

Lot 56



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Lake on Lot no. 8

View south towards the entrance to the scheme - Lacovia is in the distance



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View north - the highlands of the property

Subdivision road

Subdivision road north to the higher levels of the development - Road is impassable - needs rebuilding



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House on Lot 27

House on Lot 53

Lot 8



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Documents

Pondside Development land, Lacovia