Sometimes things don't go in the way they are planned in life. The same incident happened with The Wisemans Ferry Surf Lodge project, which was a wave pool project estimated to be around a whopping $120 million. But how did it collapse? Check it out in the following story.
12,600 sq-meters wave pool project succumbs to problems!
What were the reasons behind the collapse of the $120 million project?
Statement from the project representative after its collapse
"To maintain an accurate and viable fund build-up, the development costs have changed so dramatically that simply adding more debt or equity to compensate does not preserve a viable financial model that the investment is based upon, " one of the project representatives spoke on the project on a regional radio station.