Covenants changed

It seems that the covenants protecting Home Park are to be changed to allow for development. There's a surprise!

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Makes good sense really, as long as any development meets with Council approval.

I agree Pete, as long as the City's needs are protected and Argyle, potentially, benefit it could be good.

Does it coincide with this?


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Very good

From my perspective, it will only be good if the development is appropriate for the park. Only details of what Brent might want to do will clear that up.
I am assuming that the covenant being changed is to cover the hotel that was envisaged to complement the Life Centre, and that the 50% uplift land value clause might be waived .... basically, that would be a nice profit to cover even more of the losses of Stapleton et al...
The wording of the Herald article is a little confusing regarding Higher Home Park.

As an aside, given that Pater Jones supposedly originally agreed with Michael Foot on any of the park being sold to private owners, am I right that his support for Brent and this deal flags a change of heart if a private hotel gets the go ahead ? I would love to ask him that question.

Change is good as long as it's for the majority and not for personal financial wealth gain, three guesses why this change is being made.

It also shows how weak the covenants were anyway.

As much as I've supported Jones over the years PP, I think he would sell his soul for a position and a sarcastic wink at Stapes, I can't blame him for that though.