Nothing huge to add to what everyone said so far - I like the music and the vocal a lot, as well as the Dire Straits guitar on the instrumental break!

I love lyrics that have strong images and so many of the images were a little too vague for my liking. I'm not sure who you're addressing. I also had to go all the way to the bridge to understand the song:

"I do remember the night your father went away, we were so young
When your mother passed you seemed so frightened by life's hour glass
Our different lives got in the way
We could only sit back and watch the promises fade away"

If you introduced the idea of being young earlier on then that may have helped me understand and would probably have hooked me in earlier. I'm being a little pedantic with that though. :-)

I think it would have helped more to have some people in there - "I walked through Lawley field." You describe a lot of places, but not the characters involved. Perhaps revealing more about yourself and the person you're addressing would help. To me it seems to be about to children who were freinds/lovers who drifted apart so understanding these two folks better would help me related. I think we've all had an experience like that!

Please feel free to completely ignore everything I say. Every time I think of something I'd change I think it sounds good the way it does now, so I may just be making it different... :-)