They moved to a small alcove to sit, and Jude picked up the conversation where they’d left off. ‘Yes, the recession was tough on lots of small businesses, wasn’t it?’
But that offended Fergus. ‘Mine wasn’t a small business. It was international. I’d got developments all over. And would have had a lot more if it hadn’t all gone belly up.’
‘What was the problem? Banks refusing to give you credit?’
‘Well, it came to that in the end, of course. But it wasn’t what started the rot.’
Jude was silent, confident that she was going to get Fergus McNally’s long sad saga whether she wanted it or not.
‘No, basically I was shafted,’ he went on. ‘Should have stayed on my own.’
‘You went into partnership with someone else?’ asked Jude, rather suspecting she knew in which direction the conversation was moving.
‘Yes, and he turned out to be a complete bastard.’
‘Ah.’
‘Screwed me totally. Ruined my life. At the end of it I was bankrupt and my marriage had broken up. Had to sell the big house and all our personal property abroad. That’s why I’ve ended up in a tatty rented flat in Fethering of all godforsaken places.’
There was an inevitability about what was about to be said, so Jude asked the question sooner rather than later. ‘What was your partner’s name?’
And sure enough the reply came: ‘Barney Willingdon.’
‘Ah.’
‘You sound as if you know him.’
‘We have met, yes,’ replied Jude, offering no further elaboration.
‘Well, when you next see him, you can tell him from me that he’s a total bastard and I’ll get my own back on him one day!’
‘I’m unlikely to see him again,’ Jude lied. ‘What actually happened?’
‘Barney and I had known each other from kids – even went to the same bloody primary school in Worthing. Separate ways after that, but we both ended up in the property business. Both started out locally, Barney buying up big houses and turning them into retirement homes, while I was developing student accommodation in Brighton. We’d bump into each other occasionally, all perfectly pleasant. We were kind of rivals but not really, because we were in such different areas of the business. Just a bit of one-upmanship about which one of us was making more dosh. And we were both doing all right back then. Late eighties, early nineties it was hard to go wrong in property. And then Barney and I both got involved abroad. I was building holiday villas in Spain, he was more Eastern Mediterranean.’
‘Turkey?’
‘Yes. He started there, building in the Fethiye area. He flew me out a few times to see if I wanted to invest. Sadly, at that point I didn’t have any spare cash. Otherwise I would have done quite well out of it. But Barney’s kind of restless when it comes to his business, he always wants to be moving on, always thinks there’s a bigger pay day just around the corner. So he started to get involved in Northern Cyprus. He said it was a free-for-all out there, everyone coining it. And then one day Barney asked me out for lunch and put a proposition to me.’
There was a silence. Jude waited.
‘It was on a completely different scale from individual villas on the Turkish mainland. Barney had this really big scheme in mind, whole valley full of holiday apartments to the east of Kyrenia. He’d got local Turkish partners – you can’t do business out there without that – but he needed more investment. And at that lunch I tell him my business has really taken off and this time, yes, I might have some cash to invest.
‘Next thing I know I’m being flown out to Northern Cyprus, put up in one of his luxury villas. I’m meeting Barney’s local partners, I’m shown the apartment builds they’ve already done, I’m looking at the site where the new development’s going to be. I’m meeting British expats who’re telling me what a fabulous lifestyle they have out there. And it is a great place, proper Mediterranean holiday island. Lovely beaches, restaurants, diving, other sea sports – great. And enough archaeological sites for people who like that kind of thing. These bloody great Crusaders’ castles. It’s a fabulous place, and property’s a lot cheaper there than it is in other parts of the Med.
‘Well, it all looks bloody rosy, I can tell you, and pretty soon I announce to Barney that I’m in. I accept his deal, it all goes to the lawyers, everything sorted out, we’re partners.’
‘What, the two companies merge?’
‘No, it wasn’t like that, but it was a closer arrangement than me just investing in his mainland villas. We’re partners on the one project, the Northern Cyprus development, that’s it. And at first everything goes fine. Building work starts – and with it a blooming great marketing campaign, selling the apartments to the Brits.’
‘Always the Brits. No Turkish?’
‘No, Turks don’t want to live in places like that. This was strictly holiday accommodation, and if you can fill it you’re on to a real money-spinner. Anyway, these apartments are being snapped up off-plan like there’s no tomorrow. Future’s looking even rosier for Barney and me.’
Gloom encroached further on to his face. Jude noticed that his glass was empty. ‘Get you another?’
Fergus McNally consented, too preoccupied to realize it wasn’t strictly speaking her turn. At the bar, as he filled clean glasses for them, Ted Crisp murmured to Jude, ‘Got on to the subject of his business partner yet?’
‘Oh yes.’
‘Then you could be there a while. I’ve got a camp bed out the back if you find you need it.’
She returned to the alcove, handed over Fergus’s pint and encouraged him to continue.
He was more than happy to pick up the cue. ‘Well, what we get next is political problems. I mean, I don’t know if you understand the status of Northern Cyprus, as it were, internationally?’
‘Remind me.’
‘The place is not quite a rogue state, but it’s as near as dammit. It’s only recognized by Turkey. Lot of Turkish soldiers stationed there. This all happened after an invasion by the Turks – 1974 I think it was. Before then there’d been a mix of Greek Cypriots and Turkish Cypriots in the area. After the invasion, most of the Greeks went south to the bit that’s part of Greece and a lot of Turkish Cypriots came up north. So there’s now two states with a border between them – well, actually there’s a United Nations buffer zone that goes right through the middle of Nicosia.
‘I don’t want to bore you with politics, Jude, but there’ve been lots of initiatives to get Cyprus reunified. And they’ve got stronger as Turkey’s become keen to join the European Union. The existence of this unrecognized state of Northern Cyprus has been a bit of a stumbling block there.
‘Needless to say, the uncertainty over the place’s future has an effect on everything, particularly the property business. There are disputes over ownership of a lot of land there. The Greek Cypriots were turfed out, see, but if there is reunification there’s a strong possibility they might come back and claim their old property. And when we talk about property we’re talking about the land, regardless of what’s been subsequently built on it. Foreign buyers could find themselves owning a property but not owning the land on which it’s built. So, you see, there’s a lot of confusion over who owns what – or who will own what in the future.’
‘So is the land where you and Barney were building your apartments disputed territory?’
‘Potentially, yes. Not, of course, that he told me that when he’s all chummy trying to get me involved.’
‘And is that why the whole thing went belly up?’
‘One of the reasons. First, there’s something in the news about an English couple who’ve bought on Greek-owned land and face the prospect of having their property demolished, and that’s the kind of rumour which doesn’t do a lot for public confidence. It’s not exactly an incentive for people to buy in Northern Cyprus, is it? And then, of course, you get the financial crisis and the banks stop lending and nobody’s got any money and …’