Developer fails in bid to avoid £1.4m overage payment

The Court of Appeal today ruled that a developer which sought to avoid paying an additional £1.4m in overage on a Milton Keynes site by exceeding a 10-year deadline by only four days must now stump up the sum. The court found that the developer had “manipulated the timetable” in a bid to prevent an overage agreement being triggered. The case raised the important question whether, when a party takes on a “reasonable endeavours” obligation in an overage agreement, it is entitled to take into account its own commercial interests and to decline to take steps that it considers to
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