Hanover Finance have put up for sale Dave Henderson's Five Mile Village project near Queenstown. More accurately, they have put up for sale a large area of land, home to a big excavated hole.
Hanover lent Hendo some $70 million for his totally ludicrous village project and, in these darkening economic times, its highy unlikely that Hanover will get all their investors money back - that's if they can find any buyers that is.
One of the more notable visitors to 'Hendo's Hole', back in the day when Henderson's credit lines hadn't dried up, was his old mate and fellow free marketeer Rodney Hide, now the Minister of Local Government.
The Five Mile village continues to be featured on the website of Henderson's company Property Ventures.
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