The Grand Harbour commercial complex and an adjoining parking lot have been purchased by Jamaica-based real estate company Kingston Properties Limited.
The final closing cost of the deal has not been released. However, the mixed-used residential, commercial and marine subdivision development which spans 6.9 acres, and comprises 36 units totalling 37,276 square feet, was listed by Coldwell Banker with an asking price of US$15.98 million.
The sale doesn’t include the Hurley’s supermarket and adjoining pharmacy.
But other current tenants in the complex, including Salty’s sports bar, are understood to be part of the deal.
Posting to social media on Friday, 15 Sept., Kingston Properties announced that it had taken over control of a majority of the strata at the complex while noting that this was the largest acquisition of its five properties in Cayman.
The company, which is listed on the Jamaica Stock Exchange, first established a presence in Cayman 15 years ago.
In July 2020, Kingston purchased the Harbour Centre, a multi-storey office building on North Church Street in George Town for US$10.7 million.
Among the other properties owned by the company are eight warehouses in the Rosedale Warehouse Complex in George Town and a mixed-use building in West Bay.
Editor’s note: An earlier version of this story incorrectly attributed the listing to Century 21. In fact, Coldwell Banker was the listing agent. We apologise for the error.
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