Trio property sold

    SEPTEMBER 2014 – The 26-acre Trio property at 773 Cordova Bay Road has been sold to an undisclosed buyer. Colliers International, representing Trio, confirmed to the Cordova Bay Association for Community Affairs on Sept. 15, 2014, that there is an unconditional sale. The sale is due to close on Dec. 15. “Until that time I am not able to disclose any information about the sale,” Michael Miller, Senior Vice-President for Colliers in Victoria, told the CBA.

    JULY 2014 – Trio Gravel Mart, operated by the McLaren family on the Trio property, has closed.

    Ian Maxwell, president of the Ralmax Group of Companies, has bought the assets of Trio Ready-Mix and is evaluating the viability of also buying its 26-acre site in Cordova Bay. The agreement means Ralmax will run the Trio ready-mix plant and pre-casting business on the Esquimalt Reserve. UPDATE – Ralmax has dropped its interest in purchasing the Trio property, the CBA has learned. The current asking price for the property is $8.9 million, down from the initial $11.5 million.

    Still to be decided is whether Maxwell will acquire the 773 Cordova Bay Rd. property, which recently went on the market for $11.5 million… See more at Times Colonist article, Dec. 10.

    The long-established Trio Ready-Mix property at 773 Cordova Bay Road was up for sale for $11.5 million, but there have been two price-drops since the end of 2013. The 26.29-acre site (10.6 hectares) was rezoned into three pieces in 1999 with 110 condos and townhouses (zoned RM-3TR, 3.45 hectares) slated for the area where Trio Gravel Mart is located and indoor and outdoor storage spaces (zoned M2 Industrial, 3.96 hectares) in the north of the property.
    However, the listing by Colliers International (click here) states there is “ . . . the potential to add additional residential units through rezoning the existing M2 Industrial Zone portion of the site.”
    The southwest part of the property covering 3.19 hectares is described in the listing as “unusable green space.” It is zoned P-4 which permits a variety of uses including park, community centre, recreational facility, accessory residential, accessory buildings and structures, adult or child day care.
    Times Colonist article, Nov. 29, 2013.

    (All stories contributed by Roger Stonebanks, CBA member.)

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