IF there is such a thing as the middle ground in the Porsche lineup of sports cars, then that is where you will find the Cayman.

It’s a compact two-seat coupe but a different beast from the larger 911, which has morphed into a frighteningly quick grand tourer.

It’s still capable of running rings round most rivals, but if you want to experience the abilities of a more agile machine with a smaller footprint, you’ll need a Cayman.

This second-generation Cayman benefits from changes to the suspension and track, subtle aerodynamic tweaks and extensive powertrain revisions.

What you get is a more involving and exhilarating driving experience.

Armed with Porsche’s 275bhp 2.7- litre engine in the entry model or the more explosive 320bhp 3.4-litre flat six unit in the Cayman S, this is indeed a dream car at a dream price. For a tad under £40,000 you can be the owner of a car that looks and drives like something costing twice that price.

Although downsized from 2.9-litres for the regular Cayman, the new 2.7 unit delivers improvements in every important area. It’s also surprisingly clean and frugal, too – I found it will return the claimed 34.5mpg, and 197g/km CO2 emissions are respectable.

With bags of torque plus the option of a naughty-sounding sports exhaust, the regular Cayman does a great impression of being a sub-four seconds 0 to 62mph supercar.

It might only be capable of zero to 62mph in 5.7 seconds with a manual gearbox and reach a paltry 165mph top speed, but that’s easily enough to get you into trouble. For the record, the Cayman S will hit 175mph and race to 62mph in 4.7 seconds.

In truth, both offer an embarrassment of riches in performance terms. The stock Cayman’s abilities, however, are likely to prove more accessible in the real world for most drivers.

As an everyday proposition the Cayman, irrespective of engine choice, is a good one. With a decent-sized boot at both ends plus a cabin with numerous small storage areas, living with it is no chore. Yes, entering and leaving the cabin requires a little dexterity, but once you are settled in the luxurious leather sports seats the world seems a better place.

It’s time to play – and Porsche keeps one eye firmly on the time.

There are four clocks on the dashboard - well, five actually, if you include the biggest, which shows only seconds. There’s bags more information at your fingertips too – including a G Force calculator – as you make your way around the trip computer and centre console.

Forward visibility is rather good, as is the surprisingly generous level of standard kit that’s easily on par with your average executive saloon.

But the Cayman isn’t about playing it safe, though. At its core it’s a car designed to entertain – the Robbie Williams of the auto world.

For all the various changes, firing up the engine still delivers Porsche’s trademark rasping note. If you are feeling naughty, you can press the optional (but a must) sport exhaust button that emphasises the note to the point of a grunt.

On the move, the car’s ride is a clever blend of compliance and measured firmness to ensure pitch and roll is all but eliminated at speed.

The elastic nature of the 2.7 engine’s delivery means you’re rewarded aurally when you hold on to the gears. The electric power steering – first seen in the current 911 and then the Boxster – ensures driver confidence remains high.

The Cayman both encourages and rewards skilled, brisk driving. If you drive like a maniac with little thought for the consequences, the Cayman will bite. However, play to the car’s strengths and the result is the ability to place it accurately for a corner and enjoy the full extent of its talents.

The 2.7-litre version will be plenty fast enough for most drivers – even on a racetrack – and allow them to spend on the options, such as the superb PDK automatic gearbox.

My test car came with more than £12,000 of options, including an eye-watering £2,780 for larger alloy wheels. a £1,084 sport chrono package and a lush and devilish red leather interior (£2,901) that contrasted perfectly with the purity of the brilliant white exterior.

An exhilarating, focused sports coupe, the Cayman will be the pick of the Porsche offerings for many drivers and for many good reasons.

Fact File

Porsche Cayman

PRICE: from £39,694

ENGINE: six-cylinder 2.7-litre petrol developing 275bhp

TRANSMISSION: six-speed manual transmission as standard, driving rear wheels

PERFORMANCE: top speed 165mph, 0 to 62mph in 5.7 seconds

ECONOMY: 34.3mpg combined

CO2 RATING: 192g/km