Option agreement for land in Devon
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 Devon
Considering an option agreement for land in Devon? Here is how it works and where it fits. Devon has no Green Belt, but Dartmoor and part of Exmoor National Parks and the East Devon, North Devon, South Devon, Blackdown Hills and Tamar Valley National Landscapes cover a large share of the county. Growth focuses on Exeter, Plymouth, Torbay and the market towns, with many villages beyond. Edge-of-town greenfield land, farm buildings and smaller infill plots are the usual sources of new housing sites.
The A30, A38 and M5 corridors and the main line from Exeter to Plymouth carry most of Devon's planned growth, including new communities east of Exeter. In coastal towns, flood risk and coastal change can affect sites, while nutrient neutrality advice has applied in the River Axe catchment on the Dorset border.
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.
Since 6 August 2026, non-major development on sites of 0.2 hectares or less in England has generally been exempt from mandatory biodiversity net gain, unless priority habitat is affected. That makes many small sites simpler to bring forward.
Devon has no designated Green Belt, so the main policy questions near Exeter are usually the settlement boundary, landscape and access.
Parts of Devon fall within Dartmoor National Park, Exmoor National Park, East Devon National Landscape, North Devon National Landscape, South Devon National Landscape, Blackdown Hills National Landscape and Tamar Valley 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 Devon that often suits an option agreement
WantedResidential development land
Around Exeter, 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 Exeter 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
Brownfield land in Exeter tends to be well located for homes; the questions are usually about contamination, demolition and neighbours. Less common, but possible on larger regeneration land.
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WantedGarden and backland plots
In parts of Exeter with long gardens or rear lanes, backland plots can work well if the access is wide enough and neighbours are treated fairly. Helpful where several gardens are being combined over time.
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WantedStrategic land
Larger landholdings on the approaches to Exeter are where strategic land usually comes from, particularly near transport links. The standard route: we fund promotion and you are paid on sale.
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WantedCommercial and industrial sites
Older business land around Exeter, especially units now surrounded by housing, is the kind of commercial site we would like to discuss. Possible for larger estates being phased out.
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WantedSites with lapsed or refused planning
We read the planning history of sites across Exeter closely; a past refusal often points straight to the fix. Suits larger sites needing a longer route.
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WantedAllocated and promoted land
If your land near Exeter 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 Devon
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.
Do you really pay my legal costs?
On option agreements we pay the landowner's reasonable legal costs, up to a cap that we agree in the heads of terms.
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 Devon?
Yes. We use option agreements across Devon and the rest of England, where the structure suits the site and the owner.