Overage Agreement agreed by Saputo & TCDS
The Overage Agreement is agreed by both Saputo (Dairy) UK and Totnes Community Development Society on 23 December 2019. Their solicitor writes “we have taken instruction from our client and your proposal is agreed in principle”. The draft overage agreement is issued, and the agreed purchase price is £460,000. The overage agreement will be in place for 20 years and will apply to the retirement housing element of the scheme.