Breakers Speedway has been sold to a United Kingdom-based developer, which has submitted a planning application for a residential subdivision of 115 lots on the site in Grand Cayman.
According to Cayman Islands Lands and Survey Department records, Crown Acquisitions Worldwide purchased the 51-acre plot from Robert Campbell’s Race Ltd. for US$1.65 million. The official transaction date was 21 November.
Crown Acquisitions has a number of proposed developments on all three of the Cayman Islands. The residential lots are marketed online to overseas buyers in the UK, Middle East and Asia.
The Caymanian Compass e-mailed the company’s local attorney Michael Alberga, requesting comment on the plans for the property, but have not received anything further.
According to the minutes of the Central Planning Authority’s 7 November meeting, members were advised that Crown Acquisitions submitted an application for a 115-lot subdivision on the site.
“[H]owever, the notification form sent to the adjacent land owners only indicated that the purpose of the application was for a residential subdivision – it did not reference the number of proposed lots,” according to the minutes.
The authority “resolved that the applicant would have to re-notify the adjacent land owners with a revised notice form that details the number of proposed lots.”