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DISPOSITION OF CROWN LAND - Published June 9, 2022

Community Notices 09 Jun, 2022 Follow News

DISPOSITION OF CROWN LAND - Published June 9, 2022

GOVERNOR (VESTING OF LANDS) ACT (2005 REVISION)

NOTICE UNDER SECTION 10(1)(a)

DISPOSITION OF CROWN LAND

Notice is hereby given that on the recommendation of Cabinet, His Excellency the Governor is proposing to vest the freehold interest in the Crown property specified in the Schedule below (Block 11D Parcel 92) to Governors Square Ltd, in return for a consideration of US$2,205,000 (two million two hundred and five thousand United States dollars), and to vest the freehold interest in the Crown property specified in the Schedule below (Block 11D Parcel 94) to the Lime Tree Bay Strata Corporation, in return for a consideration of CI$ 4,673,333 (four million six hundred and seventy three thousand three hundred and thirty three Cayman Islands dollars).

The dispositions are conditional upon:

Governor’s Square Ltd transferring the lease between the Governor of the Cayman Islands and Governor’s Square Ltd of Block 11D Parcel 94 to the Lime Tree Bay Strata Corporation for nil consideration.

The surrender of the sublease between Governor’s Square Ltd and the Lime Tree Bay Strata Corporation of Block 11D Parcel 94.

Completion of the dispositions within two years of Parliament approval.

Stamp Duty to be payable and the Government’s costs to be repaid.

THE SCHEDULE

The properties more particularly described as:

REGISTRATION SECTION BLOCK PARCEL AREA

West Bay Beach North 11D 92 8.19 acres

West Bay Beach North 11D 94 5.29 acres

The location of the properties may be inspected on the Registry Map at the Lands & Survey Dept public counter, Government Administration Building, 133 Elgin Avenue, George Town, Grand Cayman, or at the Lands Office, 19 Kirkconnell Street, Cayman Brac.

Approved by Cabinet on 8th June 2022.

Jon Hall

Director, Lands & Survey Dept

Cayman Islands Government


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