Spanish Bay Reef Resort in West Bay is for sale, it has been confirmed, and the resort is to close in less than two months’ time.
Attorney representing the sale, Michael Alberga told the Caymanian Compass that negotiations are ongoing with regard to the sale of the property, but it has not been sold.
Mr. Alberga said he could not divulge any more detail such as what the selling price is for the resort.
General Manager of Spanish Bay Reef Resort Lady Pamela Swaby said the only information she had received was no more reservations were to be taken for the resort beyond 15 July. She said she did not know if the resort had been sold or not.
A notice on Spanish Bay Reef’s website says, ‘Please note: Spanish Bay Reef is closing July 15, 2007 until further notice’.
Spanish Bay Reef is a quaint Caribbean style all-inclusive 67-room resort nestled on Cayman’s north-western coast.
Meanwhile, Spanish Bay Reef’s sister property Beach Club Colony on Seven Mile Beach is to be redeveloped in a joint venture between the land owner and a developer, said broker for the deal Kim Lund of Remax Cayman Islands.
The joint venture will result in a $160 million redevelopment, with Beach Club Colony set to be demolished in the summer of 2008 to make way for a new high-end condo development, Watercolours.