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What is a Sale and Overage Agreement (SOA)?

A sale and overage agreement is an agreement between the Council and the buyer under which:

  1. the Council agrees to sell its land to the Buyer subject to the satisfaction of a number of pre-conditions;
  2. when the land is sold by the Council it is developed by the Buyer in accordance with planning permission; and 
  3. when the units comprised in the development are sold by the Buyer the Council may receive additional monies if the sale proceeds exceed an agreed threshold.
Last modified: 09 November 2018