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That has hapopened quite a bit in recent times. The Mildmay Hotel conversion in Folkestone Road springs to mind.
I guess because the Banks won't make short-term loans to help the developers finish off the job, they go bust - very sad and unnecessary for all concerned; it's stupid too because there's nothing positive that can come out of it.
If it is because the Banks won't lend, that attitude must stifle any development - a wonder any does get going and go to completion.
Roger
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