Local lawyers offer cut price real estate service

(CNS): A new boutique law firm specialising in real estate law has opened its doors in Cayman offering, the firm says, more competitive fees for clients. The first and only legal firm to focus entirely on property, Cayman Law Associates will be advising on all real estate issues and transactions including residential and commercial property purchases and sales, leasing, development, construction, strata titles and landlord and tenant matters. “As the firm does not follow the usual corporate law firm model we are therefore able to operate with a lower cost base,” partner and head of real estate, Richard Sykes, said.

“This ultimately leads to far more competitive fees for clients however it does not mean a sacrifice in quality. The main objectives are always efficiency and availability,” he added

Sykes, formerly with Walkers is originally from New Zealand, where he is a qualified barrister and solicitor. He relocated to Grand Cayman after spending the majority of his working life in London dealing with a wide variety of real estate matters. “I am very happy to have the opportunity of offering high quality legal services to the Cayman community at competitive prices and I’m confident about the current and future state of the real estate market,” he said.

Sykes noted that his clients say pre-sales have increased and they are looking at bringing back online some projects that were previously put on hold. "We are obviously still a small market and effected by what happens overseas, but prices have been pretty stable over the last few months although the volume of transactions has been down," he said.