Highgrove Business Park George Town East, Grand Cayman

$14,000,000 /US$
New
Area (Sq Ft)
40000

The space

  • Year Built: 2008
  • Listing Type: Offices / Mixed Use
  • Zoning: Heavy Industrial
  • Acreage: 4.5
  • Beach Frontage: 0 ft
  • Road Frontage: 293 ft
  • Class: Existing
  • Construction: Block
  • Foundation: Slab
  • Occupant: Tenant
  • Possession: At Closing
  • Land Title: Freehold

Amenities

General
  • Generator
  • Security
  • Storm Windows

Views

  • Inland

Description

Located in the industrial part of Georgetown, just
behind CUC.  The building itself has been
raised so that the ground floor sits approx. 6’ above sea level. The structure
is a pour and tilt system and is a solid concrete poured structure with hurricane
preparedness in mind.  All units are 100%
leased with strong tenants and a mix of facility/service (back of house) type business,
but it is primarily a/c’d long term storage spaces of varying sizes from 10’ sf
lockers up to 600 sf spaces and larger.  Tenants
have 24 hours security cameras on the buildings and are monitored with
controlled access.  Industrial elevators for
assistance in lifting large volumes of documents/personal effects.  The site still has the capacity to add an
additional building which could bring in an additional 25-35% occupancy. It
would be suggested that this also be made into a/c’d long-term storage as well,
as there is demand for this and in particular smaller lockers.  The property also has solar panels on the roof,
which is an exceptionally good revenue generator for the property as they get a
credit back from CUC. There is also in-ground gas supply on property.  Offers future potential for uptake between the
additional building, market conditions and improved rents.  Currently the list price shows a return of 7% on
cash.  This property is a true
opportunity and must be considered in its entirety.

Additional Cost

Insurance cost per year: US$1

Directions

On Spark Drive just passed CUC. Look for property signs

Contact the Agent

Kass Coleman

Sales Associate/CIREBA Member
Office
+1 345-949-2396
Cell:
+1 345-916-0378
Skype
kass.coleman
Kass has over 25 years of Cayman Real Estate with RE/MAX under her belt! Kass “Canada”, the oldest of five, grew up in Virginia Beach, Virginia and Jackson Hole, Wyoming with a few fun packed learning years in Washington D.C. after College. Kass’s love for the Cayman Islands began in 1986 when she came to visit some college friends who grew up here in Cayman. So began her Cayman career, first as a Flight Attendant for Cayman Airways, the National Airline, then moving into the Sales & Marketing Department, where she stayed until 1992. The change that made all the difference came in 1993 when she became a sales associate with the relatively new franchise to Cayman, RE/MAX Fist Realty, which started in 1991 (it became RE/MAX Cayman Islands in 1996). Over the years, Kass has excelled and achieved many awards….Circle of Legends is her Favorite! Kass is always a…