PHOTO: CHRIS SKELTON/STUFF Veteran developer John Reid looks back on a chequered career. (File photo)
You can’t fault veteran developer John Reid for perseverance.
Over his 60-year career he has been bankrupted twice, lost many millions and left behind a trail of failed schemes. Now the 81-year- old is at it again.
His newly-minted company, Rakaia Industrial Park, has agreed to buy a 23-hectare prime development block on State Highway 1 near Rakaia township for about $3.5 million.
The land is owned by Paritai Farm Ltd, the directors of which are former horse breeder David Jones and his son Chris, a Queenstown banker. Shares in the company are owned by David Jones, his wife Mary Patricia Jones and the Paritai Trustee Company Ltd.
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