48-ACRE DEVELOPMENT OPPORTUNITY – NEXT TO PATRICKS ISLAND
CIREBA MLS LDX feed courtesy of INTERNATIONAL REALTY GROUP
Description
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.
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*Disclaimer: The information contained herein has been furnished by the owner(s) and or their nominee and represented by them to be accurate. The listing company, agent and CIREBA MLS disclaims any liability or responsibility for any inaccuracies, errors or omissions in the represented information. The listing details herein are also courtesy of CIREBA (Cayman Islands Real Estate Brokers Association) MLS and/or via LDX (Listing Data Exchange) feed. All the information contained herein is subject to errors, omissions, price changes, prior sale or withdrawal, without notice and is at all times subject to verification by the purchaser(s).
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