George Town Development Site — Property Cayman | Real Estate Experts in the Cayman Islands
56 views this week

George Town Development Site

Land at George Town

CIREBA MLS LDX feed courtesy of PARADISE PROPERTIES CAYMAN

About this property

Fantastic opportunity to develop in Central George Town. Superb investment for capital appreciation, or build an apartment complex. Agent owned. This unique lake front property is the largest undeveloped parcel for sale in the area at 0.29 acre. Set directly in the centre of George Town and one of the nearest residential locations to the new hospital being developed in Camana Bay. This lot is also located next to the new commercial plaza, Arboretum Place, being developed on the Esterly Tibbetts Highway. This parcel is zoned High Density Residential, making it ideal for an apartment complex. Similar properties in this area have 14 studio apartments with rental income potential of US$20,000 per month (approx. US$240K annually) or more! Developing this property can easily produce between 15-20% tax-free Return on Investment. Don't miss this extremely rare opportunity!!

Property Details

Acreage: 0.29Width: 100
Depth: 124View: Inland, Lake View

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.

Search by Name / MLS#

    New developments

    Buy

    Rent