Developer goes bust – but station plan still on track – Cambridge
The developer behind cb1, Cambridge’s giant station area redevelopment, has gone bust after months of speculation.
Ashwell Property Group, which was headquartered on Station Road in the city, yesterday (Thursday, 10 December) confirmed it had succumbed to the pressures of the recession and entered administration.
But a new firm has already risen out of its embers, made up of Lloyds Banking Group and former Ashwell directors, and it has pledged to push ahead with the £850 million revamp …