Option agreement for land in Greater London
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 Greater London
Considering an option agreement for land in Greater London? Here is how it works and where it fits. Outer London, from Romford and Bexley to Uxbridge, Barnet, Croydon and Sutton, contains most of the capital's remaining land opportunities. Around the edge, the Metropolitan Green Belt and Metropolitan Open Land protect open space, and a small part of the Kent Downs National Landscape lies in the south-east. Sites usually come forward as small infill plots, garage courts, backland, former commercial buildings and occasional grey belt land on the urban fringe.
London planning is shaped by both the London Plan and borough plans, with higher densities expected near stations and town centres. Small sites, including garden land, yards and redundant commercial premises close to Underground, Overground, Elizabeth line or national rail stations, are the most common route to new homes in the outer areas.
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.
The August 2026 NPPF supports homes within reasonable walking distance (around 800 metres) of well-connected railway stations, with minimum densities of 35 homes per hectare, or 45 near higher-frequency stations.
Parts of Greater London are Green Belt, though not every town has any nearby. We check early whether a site is inside it and, if so, whether a grey belt or previously developed land case could apply.
Parts of Greater London fall within Kent Downs 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 Greater London that often suits an option agreement
WantedResidential development land
Sites on the edge of outer London or the villages nearby can be worth a conversation, especially where they are well connected by road and bus or rail. Suits larger or longer-term land where planning may take several years.
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WantedLand without planning permission
Plenty of land around outer London has never had permission. What we look for first is whether new homes would fit with the existing pattern of the place. 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 outer London 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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WantedFarmland and paddocks
Fields that wrap around the edges of outer London and its neighbouring villages are the farmland we most want to talk about. The usual route for larger farmland: you keep farming and we promote the land.
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WantedGreen Belt and grey belt land
Green Belt edges in Greater London vary a great deal, so we assess each parcel against the national tests before suggesting a deal. The common route: promoting Green Belt land can take time.
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WantedStrategic land
If you own a substantial holding near outer London, the council's plan timetable will shape when and how it could be promoted. The standard route: we fund promotion and you are paid on sale.
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WantedCommercial and industrial sites
In outer London, 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
Sites around outer London with an old refusal can be worth a second look, especially where local or national policy has since changed. Suits larger sites needing a longer route.
Learn moreTowns we cover in Greater London
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 Greater London?
Yes. We use option agreements across Greater London and the rest of England, where the structure suits the site and the owner.