A nearly seven-acre assembly of land that includes the historic Capital Iron building, running from the foreshore of Victoria’s Upper Harbour east to Government Street, is going on the market for an unspecified price.
Mike Black, Ronald Greene’s son-in-law, is now sole owner of the Capital Iron business, which is a tenant in a building at 1900 Store St. Capital Iron also has stores in Sidney and Langford.
“Capital Iron has control of its leases for all three stores for the foreseeable future,” Black said.
Family spokesman and consultant David Ganong, managing director of Colliers International on Vancouver Island, said, “This is probably one of the best sites remaining in the city of Victoria. Where else do you find seven acres?”
Developers have approached the family in the past, he said.
He anticipates that given the size and scope of the lands, that Lower Mainland developers will be interested, noting that other major development properties have been purchased recently by Vancouver companies.
While all the lease terms are intact, it does not sound like a long-term thing.