Smith’s Cove Stays

Cayman 27
October 7, 2016

Smith Bacadere returns to the people.

Less than 24 hours after announcing talks were underway to buy over the prized land at the centre of public petition, Premier Hon Alden McLaughlin says Government and developers Bronte have reached a deal in principle for the purchase.

Mr McLaughlin told Cayman 27 hammering out the deal was not something achieved overnight since Government was on the heels of Bronte before the three storey, 24 unit condo complex became public.

He told the LA on Friday (7 October) a price is still being ironed out, but Government agreed to meet the purchase cost, stamp duty and associated costs incurred by Bronte.

However he said it’s about getting the land in the hands of the people of Cayman as soon as possible.

“We have already got a draft of the contract available for us for consideration and I am hopeful within a week or two we will actually complete the purchase,” Mr McLaughlin said.

The purchase will be paid out of the $60 million Environment Protection Fund and the land will be listed on the National Trust’s heritage registry and preserved as a public space.

Premier McLaughlin said he’s confident all MLAs will support the motion to withdraw from the fund.