Option Agreements

Whether you are a landowner or a developer, you will find a well-negotiated option agreement to be of great benefit.

For a prospective purchaser, the agreement defines a timescale during which they have the option of purchasing a piece of land at a point in time that has been agreed in advance (usually the grant of planning permission). They gain the right to purchase the land, but it may not be required immediately. This allows flexibility, and provides time to secure other business that may be required before work can proceed.

For the landowner, an option agreement can often guarantee an upfront payment, as well as gaining a solid commitment from the developer that they will be seeking opportunities to purchase and develop the land in question once planning permission is obtained.

We know just how crucial it is to ensure an option agreement is fully and properly negotiated. The length of the agreement and the valuation of the land, as well as the detailed terms about who owes what and at which times, are all vital in making sure the agreement works properly for both parties.

Promotional Agreements

Again, whether you are a landowner or a developer, you will find a well-negotiated promotional agreement to be of great benefit.

For a promoter, the agreement defines a timescale during which they have the right to promote the land to the local authority and to apply for planning permission.

For the landowner, a promotional agreement can often result in an upfront payment, as well as gaining a solid commitment from the promoter  that they will be seeking opportunities to obtain planning permission on the land in question as quickly as they can.

Once planning permission is obtained the promoter and landowner work with us to market the property for sale to secure a sale to a developer. The sale proceeds are then split in accordance with the promotion agreement.

The length of the agreement, as well as the detailed terms about who receives what and at which times, are all vital in making sure the agreement works properly for both parties.

Our surveyors are qualified and experienced in both these specialist areas and we can provide you with considered and detailed advice.

 

 

Meet the Team

John Hall

John Hall

BSc (Est Man), FRICS, FAAV

Senior Partner

Rugby

Commercial

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Jeff Paybody

Jeff Paybody

BSc (Hons) MRICS FAAV

Partner

Rugby

Rural

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Tim Howard

Tim Howard

BSc (Hons) MRICS FAAV

Partner

Rugby

Auctions / Rural

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Peter Bennett

Peter Bennett

BSc FRICS FAAV

Partner

Atherstone

Rural

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James Collier

James Collier

BSc (Hons) MRICS FAAV

Partner

Atherstone

Rural

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Ian Large

Ian Large

BA (Hons) MSc MRICS FAAV

Partner & Head of Rural

Ashby de la Zouch

Auctions / Commercial / Planning & Development / Rural

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