Expression of Interest - Government Administration Building

The Cayman Islands Government invites expressions of interest from investors who wish to acquire the freehold interest in the new Government Office Administration Building under construction on Elgin Avenue, George Town, Cayman Islands and located at Registration Section George Town Central, Block 14CJ, Parcel 175.

Description of Property

The property comprises a custom-built Category 5 hurricane-rated building scheduled to provide 188,000 sq. ft. gross (143,662 sq. ft. net) of new office accommodation plus associated car parking for occupation by the Cayman Islands Government (CIG).

Construction is due to be complete in January 2011, and any sale is subject to CIG agreeing and signing terms for a commercial Lease under which CIG will contract to pay rent as Tenant at Market Rental Value.

The existing contract to construct the building, between the Cayman Islands Government and McAlpine Ltd., is unaffected by this sale, and will remain in situ.

The Parcel of land on which the property is located is being subdivided to separate the subject property from the other buildings on the Parcel, which are not to be included in any sale.

Expressions of Interest are to be submitted in writing by 12:00 noon on Friday 26th February 2010 to:

The Secretary, Central Tenders Committee

c/o Treasury Department

Government Administration Building

71A Elgin Ave, George Town,

Grand Cayman KY1-9000

Cayman Islands.

As an indication of serious intent a Bankers Draft of US$100,000 made payable to the Cayman Islands Government must accompany the Expression of Interest, and will be refunded by cheque 28 days later. The submission should include evidence of the financial standing of the applicant.

An information package including Heads of Terms for the Lease will be issued to successful applicants shortly after the submission date, and bids will then be requested to be submitted to the Central Tenders Committee by Friday 12th March 2010.

The CIG shall not be bound to give any reason for not accepting Expressions of Interest of any applicant, will not be responsible for any costs incurred by applicants in preparation thereof, and reserves the right to extend deadline/submission dates.