Overage is a common method for sellers to realise increased value for their land where, for example, a planning permission is subsequently obtained for development of the land. Properly drafted, an overage agreement can work for both parties by maximising value for the seller and de-risking potential overpayment by the buyer. However, it is vital that the agreement is clear as to what overage will be payable, on what basis and when. Mistakes can be costly!Read more..
The Real Estate team at Royds Withy King has worked closely with the leaseholders at London’s massive Tobacco Dock complex, to successfully negotiate a new ten-year lease of the iconic building. The complex, recently converted into an events and convention …Read more..