Beach development under construction and is bucking the current trend in the
real estate industry – it is selling.
However, it has a couple unique advantages over other developments.
It will be the first nine-storey
development on Seven Mile Beach, but within the height of 10 stories, so each
floor level will have at least ten foot ceiling heights. The upper floor levels
will have stunning views past George Town and Northwest Point, on the west side
and Rum Point, in the other direction. No other development will have a vista
like this from their upper floor levels.
Secondly, and very importantly, the
developer has lowered the price on each residence by about US$1,000,000. Due to
adding three more floor levels and not taking additional profit, the land cost
was able to be amortised across another 21 residences, creating these savings.
So, instead of prices starting near US$4 million, they now start at US$2.7
million for the exact same residence and same prestigious specifications.
Construction started in late 2009 and it
has continued to ramp up. This will be the pre-eminent residential condominium
development on the beachfront. Ultra-exclusive cannot even begin to describe
the quality and amenities of this property.
It is located at the Beach Club Colony site, probably one of the most
prime locations for consistent beach quality and easy walking access to all of
the Seven Mile Beach conveniences. WaterColours will have three different floor
plans comprised of 3,600 to 3,700 square foot 3 BR/3.5 BA plus Den residences
and 4 BR/4.5 BA all beachfront residences from ground floor to the ninth floor.
A total of four guest suites will be included on site for the owner’s personal
use to accommodate their pilots, staff and guests.
Other facilities include a beachfront
state-of-the art fitness studio, beachfront infinity swimming pool and jacuzzi,
private massage room, beachfront owners’ conservatory, 24-hour security,
concierge services, private under building parking and storage, valet parking,
porte cochere, lush tropical landscaping and even more. The locally
distinguished design firm, International Design Group will provide the interior
design and furnishings for all the common areas, as they did for Water’s Edge.
This will likely be the last beachfront
development on Seven Mile Beach, for some time, as development sites have all
but disappeared. WaterColours will be a critical and key addition to the Cayman
Islands’ property market. It will reinforce our high quality status for
investment and tourism by providing one of the most prestigious beachfront
residential lifestyles anywhere in the Caribbean. We need more developments
like this to fortify this status level.