Option agreement for land in Leicestershire
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 Leicestershire
We use option agreements for suitable land across Leicestershire. Leicestershire surrounds the city of Leicester and includes Loughborough, Hinckley, Coalville, Melton Mowbray and Market Harborough, plus many villages. There is no Green Belt, although local plans use green wedges and areas of separation to keep settlements apart. Typical sites include edge-of-town and village fields, farm buildings, infill plots and former industrial land around Coalville and the north-west of the county.
The M1, M69 and Midland Main Line corridors carry most growth, with urban extensions around Leicester and Loughborough. In the north-west, nutrient advice for the River Mease has affected schemes, and much of the area near Coalville is former coalfield, so mining risk checks can apply.
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.
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.
Leicestershire has no designated Green Belt, so the main policy questions near Leicester are usually the settlement boundary, landscape and access.
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 Leicestershire that often suits an option agreement
WantedResidential development land
Around Leicester, 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
Near Leicester, land without planning is worth discussing where it adjoins existing homes or has been put forward to the council's plan. Suits bigger sites or longer timescales; you are paid a premium and keep the land meanwhile.
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WantedGarden and backland plots
Backland development in Leicester turns on access and privacy; we look at both before suggesting whether an application is worth making. Helpful where several gardens are being combined over time.
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WantedFarmland and paddocks
We are looking for farmland near Leicester with a realistic access, ideally land the owner has already put forward to the local plan. The usual route for larger farmland: you keep farming and we promote the land.
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WantedStrategic land
If you own a substantial holding near Leicester, 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 Leicester, 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
We read the planning history of sites across Leicester 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
Around Leicester, allocated sites and land put forward to the council are usually the furthest along, so they can often move faster than land at an earlier stage. Suits land at earlier plan stages.
Learn moreTowns we cover in Leicestershire
Option agreement: questions
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.
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 Leicestershire?
Yes. We use option agreements across Leicestershire and the rest of England, where the structure suits the site and the owner.