Obtaining value from Rookwood

In his letter of January 28, Mr Kornycky put forward an extremely strong case to support the view that the registered land charge would fall away after March 27, 2066.

Mr Chipp, chief executive of HDC, attempted to counter this by saying that external legal experts feel that it is uncertain whether the land charge would automatically fall away, and that the original owner MIGHT have a claim on any development profits after that time.

HDC appear determined to develop Rookwood now, despite the lack of clarity on clawback of any future development gains.

In fact, given the weight of Mr Kornycky’s comments, it seems quite likely that post 2066 the clawback will either be eliminated completely, or, at least, by negotiation kept well below 50 per cent of any development profits.

Against this background, it seems poor judgement to develop Rookwood NOW, and take a certain hit on the development gain; this is especially true when Rookwood is currently providing FULL VALUE to the Horsham community, albeit that some of that benefit is in intangible form.

While it is pleasing to see comments from representatives of HDC, I am surprised at some of the statements made. For example, the fact that land values are virtually certain to increase substantially in the future is ignored; presumably in an attempt to justify selling the land now at half the current price.

HDC’s claim that Rookwood members can easily find alternative venues also seems strange; the current situation is that most private clubs have a ban on visitors and are restricting their own members to two or, at most, three games a week.

But Rookwood is not just about finance; we all know how well the golf course and the nature reserve complement each other, and the huge enjoyment both of these facilities bring to so many; in addition, the golf course produces a steady income.

Like so many others, I hope that HDC will look elsewhere for development and not take the easy option of using Rookwood; just because it is there and easily available shouldn’t mean that it is the only option considered seriously.

ROGERSKILLIN Newpound, Wisborough Green