Multimillion-Dollar Oceanfront Estate on Grand Cayman Scheduled for Luxury Auction® Oct 7th

GEORGE TOWN, Grand Cayman, Sept. 22, 2022 /PRNewswire/ -- On October 7, 2022, a custom-built oceanfront estate in the Cayman Islands will be offered for sale at luxury auction®. Once asking $11.5 million USD, the luxe Caribbean property will now be sold to the highest bidder without reserve and regardless of the amount of the auction's highest bid. Miami-based Platinum Luxury Auctions, a firm specializing in the non-distressed auction sale of luxury homes, was retained by the property owner to manage the sale. Cayman-based RE/MAX Cayman Islands, represented by brokers Kim Lund and Cindy Raymond, is the brokerage of record for the transaction.

"We've been very successful with our luxury auction offerings in the Caribbean territories to date, and we're excited to present this Cayman Islands property to the marketplace following our record-setting sale on Virgin Gorda, BVI earlier this year," stated Trayor Lesnock, founder and president of Platinum Luxury Auctions. In the first quarter of 2022, Platinum sold a luxe villa on Virgin Gorda for approximately $14 million USD, marking a substantial price for an island where most transactions are in the $1 million to $4 million price point, Lesnock added.

Located on Grand Cayman within the small town of Savannah (an area that enjoys the island's highest elevation), the property was custom built in 2004 by its original and only owner - a very prominent, international businessman from London. His vision was to create a large, private, Caribbean estate suitable for hosting the three generations of his growing family. To that end, he retained notable architects Arek Joseph and Wil Steward of the Caymanian firm of Chalmers Gibbs Martin Joseph, in addition to hiring internationally renowned designer Pam Anderson, who specializes in luxe hotel interiors.

The result is a three-structure, tropical retreat that exudes "relaxed island luxury" and consists of a two-story main residence, separate guesthouse and caretaker's cottage. The structures combine to offer a total of 9 bedrooms, 7.5 baths and more than 12,600 square feet of living space. The larger size of the living quarters and the ample bed-and-bath count make the property ideal for large families, entertaining on a grand scale, or for generating substantial vacation rental income. (The property was placed into a vacation rental program within the past 2-3 years, though was intentionally rented "lightly," per the owner's preference. Rental performance information is available to interested purchasers upon request).

A grand salon with walls of windows and soaring ceilings, a chef's kitchen, dual primary bedroom suites, sprawling oceanfront terraces and screened loggias are leading features of the main residence.

Perhaps most notably, the estate occupies a rare, "double lot" on the ocean, which measures approximately 2.3 acres and offers 235 feet of linear frontage on the Caribbean Sea. The ocean-facing side of the home offers southern exposure, allowing for panoramic views of the Caribbean Sea, Spotts' Beach and richly painted sunsets, while features such as mature landscaping, perimeter fencing, and an electronic entry gate - along with the lack of an immediate neighbor to the west - ensure the utmost in privacy.

Outdoor living areas ? always important when in the islands ? are equally impressive, and include multiple dining and lounge areas, a built-in summer kitchen/BBQ, and a spectacular pool that features black mosaic tiling, underwater speakers, fiber optic lighting, an infinity edge with waterfall wall, and an adjacent spa. The property owner, an avid swimmer, designed the large pool such that 100 laps precisely equal one mile.

Despite its privacy and serenity, the property is conveniently located within minutes of the capital city of George Town, the Caymans' financial hub and home to a variety of shopping, dining and entertainment amenities. The Owen Roberts International Airport, the Cayman Islands' primary airport, is within a 15-20-minute drive of the doorstep.

Interested buyers and property brokers may preview the property by daily appointment through the close Wednesday, Oct 5, 2022. Also on Wednesday, bidders wishing to participate in the auction sale must formally register with Platinum on or before the deadline of 5pm CT. In order to offer bidders more flexibility, Platinum is offering its standard "remote" bidding capabilities for those bidders who cannot be physically present for the sale, which will be held on the property site or at a nearby venue. Complete details on bidder registration, terms of sale, property features, and more is available online at CaymanLuxuryAuction.com, or by calling the property's project manager, Mr. Walter Cerini, at +1 800.939.1672.

About Platinum Luxury Auctions: Platinum Luxury Auctions created the luxury auction® model for high-priced real estate auctions and owns the federal trademark rights to the term(s) "luxury auction(s)." The real estate auction firm specializes in the non-distressed sale of multimillion-dollar properties located within and beyond the United States. Platinum's team has closed more than $1.1 billion in luxury real estate auction sales to date, while consulting on more than $2.85 billion in additional luxury property assets worldwide. Learn more at PlatinumLuxuryAuctions.com.

SOURCE Platinum Luxury Auctions LLC