About this property
A rare development opportunity in the centre of George Town, right on Hospital Road. Two properties offered together: A neighbourhood commercial parcel measuring 0.32 acres and a general commercial lot measuring 0.40 acres with an existing structure, for a combined total of 0.72 acres of developable real estate, in the heart of George Town. Considering the Government’s ‘Revitalization of George Town’ initiative and that a mere 500 feet away, the new 10-storey hotel, ONE GT, is being built, these sites are prime for redevelopment. The specifications for each parcel are as follows: General Commercial Parcel: Has a 5-bedroom, 4-bathroom home boasting over 4,000 square feet on 0.40 acres, with ample-sized rooms. Initially constructed in 1966, the traditional home saw a recent fortification in 1985, adding six-inch concrete blocks and solid-filled walls. The house has a double car garage with a storage room attached, a large home office, a separate laundry room, and two water cisterns of approximately 30,000 gallons. Less than a minute’s walk to the Cayman Islands Hospital, Government Offices, and the numerous businesses of George Town, this home and property has tremendous potential to be converted into large office spaces. Neighborhood Commercial Parcel: One of the few remaining commercial development sites in central George Town, at 0.32 acres, this adjoining parcel is the perfect site for a 3-storey office building or parking lot. An unbeatable commercial location in the heart of Cayman, surrounded by new development, this George Town, double parcel land, has endless possibilities.
|Acreage: 0.72||Width: 272|
|Depth: 286||View: Garden View|
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.