Tom Atherton at Saputo advises that he is prepared to accept £460,000 from TCDS with an overage clause relating to any additional value created by the older persons housing. TCDS are unhappy with the initial version of the overage agreement as proposed by Saputo, and so discussions begin between legal teams to create a version everyone is happy with.
Saputo (Dairy) UK state that they are considering another offer for the residential part of the site. TCDS warn that they will seek legal advice and recompense if Saputo do not honour the agreements with TCDS particularly as it has been their delay in dealing with the withdrawal of McCarthy and Stone.
TCDS propose that the exchange takes place as soon as practically possible. The preparation of a permitting schedule within the wider strategy to mitigate the flood risk and risk of contamination from surface water during demolition and construction is completed and agreed with the Environment Agency.