JEWELL HILL WEST A central valley wedged between three prominent ridges, holding a middle-aged timber resource where developed access leads to a high clearing with stunning views. 1,139± Acres Groton, Grafton County, New Hampshire Price: $775,000 Data Room Access Code - ricemine Fountains Land Inc, 175 Barnstead Road, Suite 4, P.O. Box 25, Pittsfield, NH 03263 Contact: Patrick Hackley ~ [email protected] ~ (603) 435-7428, Ext. 230 ~ Cell (603) 491-3649 LOCATION Jewell Hill West is located in Groton, New Hampshire (population 465), a township close to the state’s geographic center. This region is characterized by a dispersed population, scattered hamlets, and vast, unbroken stretches of forestland, set within sight of the White Mountain National Forest’s southern mountains. Three state forests encircle the parcel— Cockermouth to the east, Cardigan to the south, and Province Road to the west, the latter sharing a mutual boundary. The Sculptured Rocks Natural Area, a 272-acre state recreation area famous for its narrow, twisting “canyon” carved into the bedrock by centuries of glacial meltwater and now the Cockermouth River, sits just southeast of the land, offering a unique hiking and swimming experience. These Cardigan State Forest serves as the backdrop of Jewell Hill. significant public forests, intermingled with equally large private holdings, provide outstanding views from the land’s upper road spur, a choice location for those seeking an inspiring mountain retreat. Despite the surrounding “wilderness,” there are several popular destinations relatively close by, including Newfound Lake 6.5 miles to the southeast and Plymouth, NH 15 miles to the east, home of Plymouth State University. The Boston metropolitan area is roughly a three-hour drive to the south. ACCESS Primary access to the property is provided from the Class V Edgar Albert Road. The property starts at the end of this road, where internal access is supplied by several private roads. The town of Groton fully maintains Edgar Albert Road to within 200 feet of the property’s northern boundary. Upon crossing the Jewell Hill gate, a private gravel road known as the “GE” or “Palermo Mine” Road proceeds to the northwest (highlighted in yellow on the property maps) servicing the northern section of the property. This road also serves as a right-of-way to the adjacent ownership to the north. Additional internal access is provided by two road spurs leading from the GE Road. The western spur runs to the base of the property’s western mountain slopes, while the eastern spur climbs just short of the Jewell Hill ridge. Powers Hill Road is a private road which nearly bisects the property, beginning at the junctions of Edgar Albert and the GE Roads and terminating at the property’s southern end near Sculptured Rocks Road. Much of this road exists as a jeep trail suitable for high clearance vehicles. Brock Lane (private) enters the northeastern corner of the land potentially providing additional access options. The GE Road services the northern property tier. Fountains Land Inc — Specializing in the sale of forestland and rural estates. SITE DESCRIPTION The forest derives its name from the prominent Jewell Hill peak located a few hundred feet from the property’s eastern boundary. Visually, the land is “T”-shaped, where three mountain ridges occupy the extremities, with a long central valley running north to south. Standing on Jewell Ridge, at the terminus of the access road, one can peer across the valley to the land’s western peaks, a vantage that conveys the vastness of this forest. The views here are stunning! On clear days, glimpses of the White Mountains’ high peaks can be seen to the north, while seemingly endless layers of lesser known mountain ridges roll into the distance beyond. Much of the mid slopes and valley area were once cleared for agricultural purposes and occupied by several early homesteads, as is evident from the large stone walls and old cellar holes found throughout the forest. This land was likely cleared in the late 1700’s, first for sheep and later for cow pasture. The land was then allowed to naturally revert to forest in a series of stages, starting in the late 1800’s, with the last fields likely abandoned in the 30’s. The forest’s central valley is divided by a stream originating from a wetland located at the property’s northern boundary. Moving swiftly during spring months, the stream becomes lazy at the onset of summer as it makes its way to the Cockermouth River just south of the property. Elevation ranges from 2,060 feet above sea level (ASL) at the mountaintop in the northwest to 1,100 feet where the main brook exits the property in the south. Topography varies but is mostly moderate at the mid slopes and mountaintops with some steep sections on the upper slopes leading to the peaks. Soil composition is of a glacial till origin, predominantly well-drained, and supporting a northern hardwood forest type. Above: Views of the White Mountains from the Jewell Hill Ridge. Middle: The Jewell Hill Spur Road. Below: Jewell Hill in the foreground with the land’s western mountains in the backdrop. The central valley is visible between these two. Fountains Land Inc — Specializing in the sale of forestland and rural estates. TIMBER RESOURCE The timber resource on Jewell Hill West offers a diverse species mix, generally fully-stocked stand conditions, and an overall age class comprised primarily of growing stock. Given the middle-aged nature of the timber, this resource is well-suited to the patient long-term investor seeking steady asset appreciation over cash generation. Although the sawlog size class is well-represented, the significant level of growing stock ensures a steady movement upwards in total capital timber value over the holding period. Timber information in this report is based on data provided in the ownership’s forest management plan and reported 2006 thinning volumes. Based on the management plan, two sets of inventory data were used to represent total volume. The first inventory was conducted in the spring of 2002 on the 107- acre Sweetzer Lot (Tax Map 3 Lot 5). This inventory was based on 43 sample points covering commercial timberland, in a 5-chain grid pattern using a 10 factor prism. The balance of the timberland was inventoried in the late summer of 2005, based on 90 sample points covering commercial acreage, in a 9.5-chain grid pattern using a 10 factor prism. These combined volumes (as presented in the November of 2005 management plan) were then grown forward 1 year by Fountains (representing 2006 growth). The relatively small thinning volumes reported by the ownership for 2006 were then subtracted out by species and product with the resulting volumes grown forward from 2007-2009 (3 additional years). Stumpage values were then assigned by Fountains. Total commercial forestland is 1,058 acres, holding 3,225 million board feet (3.05 MBF/commercial acre) with 10,887 pulpwood cords (10.3 cords/commercial acre). Combined, total commercial per acre volume is 16.4 cords, a figure which is slightly below the regional average. Based upon this information, Capital Timber Value (CTV) has been established The central valley and main access road as at $500,000 ($437/ac). Volume and value summaries are viewed from the south. provided in further detail on the Timber Valuation provided in this report. Total Volume by Species Total Volume: Dominated by hardwoods (74% of total All Others volume), individual species composition is led White Ash 6% 7% Red Maple by red maple (24%), followed by spruce/fir 24% (17%), sugar maple (17%), beech (11%), Hemlock 8% yellow birch (10%), hemlock (8%), white ash (7%) and miscellaneous other species holding the balance. While most species have Yellow Birch traditionally benefited from strong demand, the 10% broad species diversity is seen as a positive timber investment attribute relative to fluctuating market demand for certain species Spruce/ Fir products. Beech 17% 11% Sugar Maple 17% Fountains Land Inc — Specializing in the sale of forestland and rural estates. TIMBER RESOURCE (CONTINUED) Sawlog Volume & Value: Sawlog volume is dominated by spruce/fir which is not surprising as this species Sawlog Volume by Species tends to have a higher sawlog to White Ash pulpwood ratio as sawlogs begin at a 7% Spruce/Fir Hemlock 26% lower diameter level (8” at breast height 10% with 5” top) and grading is not a factor. The forest’s 833 MBF of spruce/fir is Yellow currently valued at $100/mbf, an Birch historically low price when compared to 10% previous years (in 2005 prices were near $175/mbf). As the economy begins to rebound, demand for this structural timber All Others will increase, presenting robust price 11% appreciation in the coming years. The Red Maple spruce/fir and hemlock component also 24% represent long-term income diversification Sugar Maple as these species will reach financial 12% maturity well before most of the hardwoods. Sawlog Volume vs Value Volume Value Together, the maples, yellow birch and 30% white ash represent 43% of total sawlogs, each adapted to the well-drained site 25% conditions dominating this upland forest. 20% Other miscellaneous species consists of white pine, black cherry, red oak and 15% white birch, all highly desirable sawlogs. 10% 5% 0% Spruce/Fir Sugar Maple Yellow Birch Red Maple All Others Total sawlog values are dominated by spruce/fir, maples and yellow birch, supplemented by a desirable mix of other species. Left: Small sawlogs and growing stock account for much of the volume. Right: Most stands are fully stocked while hardwoods dominate the forest cover.