#5 Palm Grove — Property Cayman | Real Estate Experts in the Cayman Islands
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#5 Palm Grove

Commercial at George Town

CIREBA MLS LDX feed courtesy of WILLIAMS2 REAL ESTATE

About this property

Ideal Business Location Welcome to Palm Grove, a commercial office building ideally located in central George Town, on the corner of Smith Road and Huldah Avenue. Purchasing office space at Palm Grove will provide you with a perfect location on one of Cayman’s busiest intersections, so your company and brand can benefit from lots of drive bay traffic. Owners get to take advantage of the ability to put signage and branding on the exterior of the building, so a great location to get exposure for your company. Palm Grove is a 2-story building consisting of 6 units in total, with 3 on each level. When the current owner purchased the building, it was refurbished, and insulation and sound proofing was installed. Great Size This unit is located on the upper level (there is an elevator) and is a middle unit which consists of just under 800 sq. ft. of usable space. It is currently set up an a large open-plan office, with one smaller store room/office at the side. You could easily reconfigure this space to suit your needs. The unit comes with its own private bathroom. Energy Efficient – Part of the CUC SOLAR CORE Agreement A tremendous benefit of owning at Palm Grove, is that the building has solar panels and is part of the CUC CORE agreement, so you will get credits again your power bills. Each unit in Palm Grove has its own electrical metre and water metre and 2 dedicated parking spots, plus customer parking. Professionally Run Building Kuavo Property Management have recently been engaged to take over the running and maintenance of the building. It will give you peace of mind knowing that the common areas and building exterior of the building are professionally maintained. Reasonable Strata Fees For a commercial building in central George Town the annual strata fees are very reasonable and include the electric and AC for the common areas, common area AC maintenance, the elevator maintenance, common area cleaning and maintenance and upkeep of the exterior including the parking lot, garbage fees and landscaping. Most importantly it includes hurricane insurance for the property. Close to Everything Just 2 minutes from the Government Administration Building, George Town’s commercial hub and the airport. The building is wheelchair accessible. Use Yourself or Buy as an Investment If you are looking for an investment property, the unit is currently tenanted, and tenants are paying CI$34,200 which is probably under current market rate. There is a good opportunity to increase the rent to market rate and increase your Return on Investment. Bear in mind that George Town commercial property has historically increased in value in recent years, so there is a good possibility of future capital appreciation on your asset. If you are looking to self-occupy, what better place to locate your office. Plus, if you need more than 800 sq ft. the adjoining units on either side (units #4 and #6) are also available for sale. It would be easy to knock down the adjoining walls and reconfigure to suit your needs. Locate to this prime office space in central George Town Reach out today for a viewing, before this prime office space gets snapped up. How do you want to live your life?

Property Details

Acreage: 0.3484Sqft: 782
View: Inland

Mortgage Estimate

Neighbourhood

George Town is the capital city of Cayman and at the heart of the financial services industry. Not just a warm climate but a warm welcome; George Town is home to the island’s port, with a waterfront filled with bustling tourists visiting the duty-free shops. At the figurative centre of Cayman, sits the literal centre of George Town’s residential population — a favourite among locals for its close proximity to town, grocery shopping, local schools, Owen Roberts Airport, snorkelling, diving and classic island restaurants.

Heading East from George Town, you will find the coveted South Sound. The second most sought after area on Grand Cayman to live after Seven Mile Beach (but second to none in lifestyle), this area is more relaxed than Seven Mile with a lovely mix of condos and mid to large family homes. Hugging the waterline, you’ll find luxurious beachfront villas; the perfect location for your towel to meet the sand for a few hours a day.

A home of capital in the capital.

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