One Tower Bridge - overage agreement proceeds

Response to this request is long overdue. By law, under all circumstances, Southwark Borough Council should have responded by now (details). You can complain by requesting an internal review.

Dear Southwark Council,

On 10 August 2011, Southwark Council signed a development agreement to sell Land adjacent to Tower Bridge to Berkeley Homes Plc for the sum of £4m.

The development agreement contained an 'overage' clause meaning that Southwark would receive a share of any overage profit once Berkeley's 'One Tower Bridge' development was completed.

Please tell me how much overage profit (if any) the Council actually received from Berkeley as a result of this agreement.

Yours faithfully,

Jerry Flynn
35% Campaign
www.35percent.org

accessinfo, Southwark Borough Council

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