Monday 11 May 2009
Blue Dolphin Holiday Resort mystery
The Blue Dolphin Caravan Park Holiday Resort mystery.
There had been rumours drifting on the wind for some time that current and planned Mitchell family partnered developments on the Clarence Coast were not as sought after as was previously anticipated by investors.
Now comes confirmation that all is not rosy in the garden and the possibility that sell-offs are in the air:
Selling off individual Blue Dolphin cabins does not appear to indicate confidence in the way ahead, but many Yamba residents will welcome the news that the NSW Government-approved proposed overdevelopment of this waterfront site is delayed.
As for other Mitchell interests - according to Mariner Coastal Land Fund (the unlisted property trust) Yamba Waters has unsuccessfully been offered for sale.
It is also understood that, due to the global financial crisis, Babcock and Brown is seeking a buyer for its percentage of the Angourie Rainforest Resort which it apparently accquired in 2006.
Labels:
coastal development,
Northern Rivers,
Yamba
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