MARKET ANALYSIS TOUR OF GRAND CAYMAN with INSIDER, Malin Ratcliffe CHAPTER THREE George Town

MARKET ANALYSIS TOUR OF GRAND CAYMAN with INSIDER, Malin Ratcliffe, Broker, West Indies Brokers, district by beautiful district.

CHAPTER THREE

The Grand Cayman Capital GEORGE TOWN, Grand Cayman (district of George Town)

George Town is the Capital of the Cayman Islands, but it is certainly much more diverse than just that. It is the center for most of the banking and financial services that operates within the Islands (still) and the largest population (voting) district of the Islands. The home of “downtown” and Hog Sty Bay which is the nucleus of the cruise ship passenger destination and the epicenter of the Pirates Landing each year during the Pirates Week festivities.

When traveling through George Town there are quite a few varying road arteries that one can avail themselves, on the way towards the outer-districts. One is to head towards the Owen Roberts Airport at which time you travel through the “Industrial Park” of Grand Cayman where most of the heavy commercial / industrial activity based companies are located. Plenty of warehouse investment opportunities are afforded in this section of George Town real estate and vary in price from as low as US$100K up to US$2m+ for larger scope configuration buildings while land can be acquired starting from around US$200K. Business opportunity investing is available in all districts ranging from US$100K and beyond. Breezy Castle and George Town Yacht Club (GTYC) at the Bacadere Marina is also located in the area which is home to one of the two best marinas on Grand Cayman and the host of the touted and prestigious Cayman Islands Angling Club annual International Fishing Tournament.

Another very popular road artery is to hug the coast line and pass through downtown George Town, parallel to Hog Sty Bay and travel down North Church Street to the fabulous and serene area of South Sound, passing Jackson Point, English Point and South West Point, traveling past lovely quiet neighborhoods in the inland side of the road with property prices ranging from an affordable condominium from the high US$100Ks to homes from US$300K while looking right one travels past some beautiful ocean front real estate condominiums and homes that Grand Cayman have to offer! For example directly exiting George Town we see the lovely Oceana development with condos starting from US$1.8m, the Seaview upscale ocean from complex with prices ranging in the US$1.6m. Casa Luna, a compound type residential homes development with private sandy cove and top amenities starting at US$2.45m. The “FIN”, a full service concierge style development is a newcomer to the area and is offering varying sizes and ocean front positioning, pre-construction at US$1.2m and up. One continues traveling on South Sound Road and the neighborhood becomes very classic colonial Grand Cayman in feel with ocean front and beach front homes that range from US$2m+ up to one of “the” largest residences on Grand Cayman, the Castillo Caribe, Grand Cayman beach front, which is for sale at US$39.95m.

An additional alternative road is to circumvent the Owens Roberts International Airport traveling along Crew Road towards Shamrock Road passing the quaint neighborhoods of Randyke Gardens of Tropical Gardens where inland and garden view Grand Residential Property in Cayman apartments, condominium and homes can be purchased ranging from US$150K and up. Grand Harbour commercial and residential community is the next landmark that we pass along our travels, which possesses shops, restaurants and one of the Islands most popular grocery store, Hurleys. Grand Harbor’s residential component is a canal and nautical community with house lots ranging in price from US$250K+, condominiums in the US$350K+ and residential canal front homes starting from US$800K+. One residential home that cannot be overlooked for an investment is the exceptional Aquilo residence asking US$1.895m – its location and views is a must see! Prospect, Red Bay, Omega Estates, Patrick’s Island with ocean front lots, canal front lots, ocean front homes and condominiums along with canal front homes and condominiums abound in these great family friendly neighborhoods. Investment acquisitions are easy to find for any investor appetite.

For more sprawling inland properties the concentration is suggested in the neighborhoods of Savannah and Nelwands with acres parcels starting as low as US$85K. Multi-million homes are the “residents” of Sunrise Landing.