Cayman Enterprise City has leased more than 12,000 square feet of vacant office space in BritCay House on Eastern Avenue, George Town, to meet the demand from clients for space.
With 122 zone companies signed up and another 300 being actively targeted, CEC has to accommodate the growth of the knowledge-based special economic zone with temporary office space until the actual zone campus is developed.
CEC management said it expects to break ground on the project later this year.
In the meantime, zone companies are housed in interim zone buildings leased by CEC. In addition to the Flagship Building on the waterfront in George Town, the HSBC Building and Breezy Castle on Airport Road, BritCay House is the fourth building designated by government as interim zone space.
The Flagship Building, acquired only a few months ago, is set up for clients who need more square footage, and BritCay House will be used for smaller clients who will have fully serviced offices and suites, CEC said.
“Our huge investment into international marketing and business development is paying off and we are seeing steady growth each month,” said chief executive Charlie Kirkconnell. “Local landlords and the community at large seem pleased that we are filling up existing office space that has sat empty for many months, including in central George Town.”
The space at BritCay House, the home of British Caymanian, recently became available when several tenants moved out. Renovations on the ground floor have started, and Cindy O’Hara, CEC’s chief development officer, has created new floor plans and layouts to accommodate zone clients in fully serviced private offices where they will share meeting rooms, kitchens and document management equipment. Zone clients in this building can also book the upstairs executive boardrooms, and the Class A building has around-the-clock security and plenty of private parking.
CEC said that as with all remodeling work for interim zone space, local subcontractors and suppliers are hired for this project.
“As property managers, we are delighted to have CEC and their clients occupy spaces in BritCay House,” said Lemuel Hurlstone, managing director of Montpelier Properties (Cayman) Ltd. “We are committed to providing first-class office accommodation to tenants. This leasing arrangement is mutually beneficial, and clients are keen to enjoy the convenient location and facilities offered.”
The first zone tenant in BritCay House is Imtex International SEZC Ltd., a subsidiary of Imtex Membrane Corp., which produces advanced membrane separation technology used in the oil industry.