Option agreement for land in Cornwall
You grant us the right to buy within a set period, usually for an option premium, while we pursue planning.
An option agreement gives us the right, but not the obligation, to buy land within an agreed period, usually once planning is secured. The landowner is usually paid an option premium on signing and keeps the land meanwhile. On option agreements we pay the landowner's reasonable legal costs, with a cap agreed in the heads of terms.
Option agreement for land in Cornwall
We use option agreements for suitable land across Cornwall. Cornwall has no Green Belt, but landscape designation is extensive: the Cornwall National Landscape covers large stretches of coast and countryside, alongside the Tamar Valley and Isles of Scilly National Landscapes. Settlements are dispersed, from Truro, Camborne, Redruth and St Austell to many small coastal and inland villages. Sites coming forward are often edge-of-settlement fields, farm buildings, former mining and china clay land, and rural exception sites for local needs.
Second-home and holiday-let pressure has led to principal residence policies in some Cornish neighbourhood plans, and nutrient neutrality advice has applied in the River Camel catchment. Former mining land around Camborne and Redruth needs mining risk checks, while the A30 corridor towns attract more mainstream housing growth.
In England, the revised National Planning Policy Framework published on 17 August 2026 replaced the old "tilted balance" with new settlement policies: development within a settlement should normally be approved unless the harm substantially outweighs the benefits, while land outside a settlement can gain support in defined circumstances.
Where an English council cannot show a five-year supply of housing land, or its Housing Delivery Test result falls below 75%, the August 2026 NPPF can give policy support to suitable housing outside settlement boundaries.
Cornwall has no designated Green Belt, so the main policy questions near Truro are usually the settlement boundary, landscape and access.
Parts of Cornwall fall within Cornwall National Landscape, Tamar Valley National Landscape and Isles of Scilly National Landscape. Protected landscapes carry strong policy protection, so land in or next to them needs particularly careful assessment.
In short: you grant us the right to buy within a set period, usually for an option premium, while we pursue planning. It usually suits farmland and larger edge-of-settlement sites; strategic land needing local plan promotion; owners happy to wait for a better price. See how an option agreement works for the full process, pros and cons.
Land in Cornwall that often suits an option agreement
WantedResidential development land
Around Truro, the residential land that tends to work is close to existing homes, shops and transport rather than out on its own. Suits larger or longer-term land where planning may take several years.
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WantedLand without planning permission
For land on the edges of Truro with no consent yet, the first questions are access, flood risk and how the council's current plan treats the area. Suits bigger sites or longer timescales; you are paid a premium and keep the land meanwhile.
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WantedBrownfield land
In Truro, the brownfield sites we look at are often tucked behind main roads or alongside older housing, close to services. Less common, but possible on larger regeneration land.
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WantedGarden and backland plots
Around Truro, garden land is most promising where a lane already runs behind the houses or two or three neighbours can sell together. Helpful where several gardens are being combined over time.
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WantedStrategic land
Around Truro, strategic sites tend to be the big fields between the built edge and the main roads, where a whole new neighbourhood could be planned. The standard route: we fund promotion and you are paid on sale.
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WantedCommercial and industrial sites
In Truro, industrial land that has drifted out of use can often be reimagined as homes, subject to the council's view on employment land. Possible for larger estates being phased out.
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WantedSites with lapsed or refused planning
If a scheme near Truro was refused or ran out of time, the officer's report usually shows what a better application would need. Suits larger sites needing a longer route.
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WantedAllocated and promoted land
If your land near Truro appears in the council's plan or its site assessments, send us the reference; it changes the conversation. Suits land at earlier plan stages.
Learn moreTowns we cover in Cornwall
Option agreement: questions
How long do options last?
It varies with the site and the planning route, from a few years for smaller sites to longer for strategic land. Extension terms are often included.
How is the price worked out?
Commonly as market value with planning, less an agreed discount and allowable costs, often with a minimum price. Take independent advice on the mechanism.
What if you never exercise the option?
At the end of the option period the land is released, you normally keep the premium, and we remove our notice from your title.
Do you use option agreements for land in Cornwall?
Yes. We use option agreements across Cornwall and the rest of England, where the structure suits the site and the owner.