Cabinet Approves Compulsory Purchase of Red Spot

Photo: Red Spot, GT – Image rights to Cayman Compass Ltd.

Cabinet has approved the compulsory acquisition of the Red Spot property on the waterfront in George Town, more commonly known as ‘fisherman’s rock’ or the fish market, to protect the continued sustenance of the fishing community of the Cayman Islands.

This has been a very sensitive matter for many years and consecutive administrations have tried to find a resolution to the issue, in an effort to ensure that this historically and culturally significant area of our Islands is preserved for use by the public, particularly our local fishermen.

For many generations of Caymanians, Red Spot has represented one of the main locations where fishermen made their livelihood and where their catch was brought for cleaning or for sale to feed Caymanian families throughout Grand Cayman, and today, the traditional of visiting the market for fresh fish continues to thrive.

Having made numerous unsuccessful attempts to purchase the property from the current owners for fair market value, the Government has determined that there is no other option but to compulsorily acquire the site.

The Government believes that the acquisition of the property is in the best interest of the Cayman Islands, its people, and its heritage; and has taken this stance as a last resort in order to promote public benefit, given that all attempts to acquire the property from the owner have been exhausted.

Consequently, the Government will be following the statutorily requirements as outlined in the Acquisition of Lands Act and every effort will be made to deal with the current land owner in a fair and transparent manner.