A rare opportunity to acquire approximately 48 acres of freehold land in Spotts Newlands, just east of Patrick’s Island. The parcel sits between established residential neighbourhoods on its western and eastern sides, in one of Grand Cayman’s fastest-growing residential areas.
At its western most boundary, the property has approximately 65 ft of frontage on the Patrick’s Island waterway. Subject to the relevant approvals, this could offer the opportunity to install a dock, offering boat access to the North Sound.
Development feasibility studies indicate that, subject to Central Planning Authority approval, the site could support a substantial phased residential subdivision. A purchaser would have the flexibility to shape the layout and density of the development around and enhance the land’s natural existing features.
Zoned Low Density Residential, the site is an ideal location for a mixed affordable and mid-level housing community, a sector where demand on Grand Cayman remains high. It would equally suit a master-planned community or a phased subdivision. Part of a man-made lake lies within the property's boundaries and could serve as a further amenity feature.
The property benefits from registered 30-ft vehicular rights of way over Block 28B Parcels 86 and 118, and access is proposed via an unimproved easement to the East-West Arterial (Bypass).
Landholdings of this scale are increasingly scarce on Grand Cayman, making this a compelling opportunity for developers planning for long-term residential demand.
IRG is the Cayman Island's leading integrated real estate and relocation services provider, as dedicated property professionals we offer our clients and customers a comprehensive range of high-quality, professional real estate services in the residential, commercial, relocation, leasing and property asset management markets.??IRG provides in-depth local expertise along with a truly global viewpoint and presence through its international affiliations with Knight Frank, Leading Real Estate Companies of the World and Luxury Portfolio.??We are a leader in the fields of luxury residential and beachfront property, raw land, commercial property and office space, development feasibility studies and market analysis.??More recently IRG has specialized in property acquisition and disposal strategies for distressed properties, including sealed bids and structured marketing plans for properties in receivership and liquidation. ??IRG also provides a full range of professional real estate marketing services with a proven reputation for delivering outstanding results.
