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6 CARDINALL AVE - PRIME INVESTMENT OPPORTUNITY, George Town, Grand Cayman, Cayman Islands

MLS#: 408681
TYPE: For Sale (Commercial)
Sold Date: Aug 31, 2018

Iconic George Town investment opportunity in the highest-visibility location in nation's capital, offering three-sided main road frontage, just a few hundred feet from the existing cruise ship docks and planned permanent cruise ship berths and in the very centre of town.

The ground floor is ideally positioned for easy conversion to duty free retail, commanding the highest value rental incomes, whilst the other three floors are well appointed and offer excellent turnkey rental space for financial services companies and, especially, law firms, due to the building's immediate proximity to the country's Main Court House.

In the medium to longer term, the building offers a prime opportunity for redevelopment into residential apartments or a boutique hotel with rooftop amenities making the most of an attractive harbour view. Current planning regulations allow 70% of the space above the ground floor to be redeveloped as residential and the opportunity exists to add an additional three stories to the existing structure, subject to planning and development regulations.

The site is serviced by three car parks, one offering spaces immediately adjacent to the building and two offering 47 stalls within quick walking distance giving a total of 60.

As expected from a Class A international bank, the building has been very well maintained and its systems and infrastructure are state of the art and modern. The building is hurricane resilient, set at a high and dry elevation, supported by a substantial back-up generator and retrofitted with impact-filmed windows.

This exceptional opportunity will not be on the market for long!

  • SQUARE FEET:32,234 To 6
  • YEAR BUILT:1973

Property Features

  • Views -Inland Land
  • Address - Cardinall Avenue
  • Status - Sold
  • Acreage -0.43
  • Sector -George Town
  • Zoning -Commercial
  • Block -OPY
  • Parcel -94,80,66
  • Class -Existing
  • Construction -Block
  • Foundation -Slab
  • Furnished -Partially

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