Residents of Shell Cove have every reason to be disgruntled. They bought very expensive land and built their homes on the promise they would have water views over an iconic marina. Instead they will have a view of a dry, dusty paddock.
The developer cites the downturn in the property market for calling an indefinite delay in starting the marina.
That being the case, the marina may be years away - and there is also the
possibility that it may never be built.
The next stumbling block may be rising sea levels. There are rumblings in government and council circles that global warming and the melting of glaciers may result in litigation if flooding makes coastal housing unlivable.
Nothing would be more prone to damage than a marina if rising ocean levels consigned it and it's services to become a suburb of Atlantis !
Up until now global warming has been something of a joke, only taken seriously by a few scientists with a droll sense of humour. We can't even get agreement on how far sea levels might rise - and because of that little has changed as far as building regulations are concerned.
Anybody considering building or buying a house would now be well advised to do some hard thinking. The pundits may be wrong and this Co2 thing may be simply pie in the sky - but right or wrong decisions will soon be made that will have an affect on the value of property.
The wise will opt for higher ground - and maybe a beach front address will not be so attractive in the immediate future !
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