Crown Acquisitions buys Breakers Speedway

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.” 

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2 COMMENTS

  1. GDP growth through population growth is questionable idea. Cayman will end up with the whole territory covered by residential buildings and few spots of nature preservation areas. With roughly the same GDP per capita and a worse quality of living standards due to overpopulation and ecological problems. Though with larger amounts of taxes and fees collected, larger budget and larger cash flows under control of politicians. Tough choice. Just a thought.

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