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Variation to the North Street Sales and
Purchase Agreement (DoV 1).

St Edward is planning to submit a revised planning application at
the end of June 2023 and are hoping for a Planning Committee date
in October 2023. In parallel a planning appeal will be lodged in
July with the outcome expected to be decided before the end of the
year. The appeal will be withdrawn if consent is granted for the
revised application before the appeal is heard.

As the proposed timetable is subject to many factors outside the
developer’s control (including changes to building
regulations that will affect the development), they have asked for
a variation to the Sales and Purchase Agreement (SPA) that requires
a revised planning application to be submitted within six months of
a refusal and agreement to change a number of additional provisions
outlined below.

Guildford Borough Council intends to vary the SPA as follows:
1. Extend the time limit for re-submission of a revised planning
application by an additional 12 months.
2. Inappropriate insurance provisions.
3. That development/works obligations under the contract can now be
carried out by "St Edward Homes Limited" rather than SEH Managers
Ltd.
4. Variations to comply with the Building Safety Act 2022.
5. A variation to acknowledge that an exchange of contracts does
not constitute a disposal. This relates to the developer being able
to dispose of no more than 300 residential units before completion
of the bus station.
6. Variation of the obligation to remedy defects for landscaping
works should be limited to defects within the agreed liability
period.
All of these matters will be verified and reported by GBC’s
appointed solicitors and Legal team before final
sign-off.