At 773 Cordova Bay Rd., the property is being marketed by Colliers International’s Victoria office as a development site. Under a 1999 rezoning, 110 residential units could be built on 12 acres on the southeast part of the site. The northern 6.79-acre portion was to be used for a mini-storage facility which wasn’t built. Another 7.46 acres is green space on the southwest section and is designated for park use. Tensions have existed for years between neighbours and Trio over issues such as trucks, odour, noise and land use. Trio was founded in 1966 by Bruce McLaren, Colin Blythe and Cy Gillingham, said Bruce’s son, Ian McLaren. His mother, Diane, is company president and brother, Mark, is head of sales. Bruce McLaren and Blythe had been friends since childhood and had always wanted to go into business for themselves, Ian said. Poor health in 1971 prompted Gillingham, who had worked with Blythe, to sell his share to the other partners.
The English Inn is priced at $2.3 million, down from $2.6 million. The 3.24 acres of development land, recently rezoned for residential use, is listed for $6.25 million, down from $6.7 million. Sales efforts include marketing to potential buyers in Hong Kong or mainland China. “There still appears to an appetite for Asian money to come into Victoria,” Michael Miller, a listing agent with Colliers International’s Victoria office, said Monday. This could be achieved through the provincial nominee program, which sees newcomers invest in businesses in Canada. Or it might be a company based in Hong Kong or mainland China with a tourist destination business, Miller said.