However, the Powerhouse deal is not all
that it seems. While Mr Woods is the owner, his friend Mike McComb has an
option to re-develop the site for 75 houses
That is going to be a lot of houses for
sale and likely to be hugely profitable for Mr McComb, a man who made his
fortune in mobile phones.
Nicholas Kenny says: “I didn't want Mr
McComb involved with the Powerhouse site but Mr Woods claimed Mr McComb was
best placed to take over my father’s work and wanted him to handle it. I had
little choice at the time, despite the many offers to buy Mr Woods out of the
site.”
Perhaps more curious still is the fact that
Nicholas Kenny had previously set-up a mouth-watering £17million deal with
Miller Homes to develop the site – a deal which Mr Woods cancelled.
This is a sorry tale and the Kenny family
have learned the hard way of who they should trust.
People should be aware of their legal
position when dealing with Mr Woods, says Mr Kenny, who says that business
agreements count for nothing.
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