Option agreement for land in Oxfordshire
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 Oxfordshire
Considering an option agreement for land in Oxfordshire? Here is how it works and where it fits. Oxfordshire combines the city of Oxford with towns such as Banbury, Bicester, Witney, Abingdon, Didcot, Carterton and Kidlington and many villages. Green Belt surrounds Oxford, and the Cotswolds, Chilterns and North Wessex Downs National Landscapes cover much of the countryside. Typical sites include edge-of-town extensions, previously developed land, farm buildings and infill plots, with grey belt now relevant on parts of the Oxford fringe.
East West Rail and the science and technology economy around Oxford, Harwell and Culham drive demand for new homes. Flood risk from the Thames and Cherwell affects Oxford and nearby villages, while Bicester and Didcot have expanded substantially through planned growth.
National policy in England now recognises "medium development" of 10 to 49 homes on sites up to 2.5 hectares, and asks councils to allocate at least 10% of their housing on sites of one hectare or less and a further 10% on sites of one to 2.5 hectares.
English councils keep brownfield land registers, and some previously developed sites can be granted permission in principle, a quicker way of establishing whether housing is acceptable before technical details are settled.
Some land in Oxfordshire is designated Green Belt. If your land is within it, it may still qualify as grey belt or previously developed land under national policy, subject to the Golden Rules.
Parts of Oxfordshire fall within Cotswolds National Landscape, Chilterns National Landscape and North Wessex 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 Oxfordshire that often suits an option agreement
WantedResidential development land
Sites on the edge of Oxford 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 Oxford 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
Former works, depots and yards in and around Oxford can make good housing sites once the ground and neighbouring uses are understood. Less common, but possible on larger regeneration land.
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WantedFarmland and paddocks
We are looking for farmland near Oxford 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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WantedGreen Belt and grey belt land
Green Belt edges in Oxfordshire 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
Around Oxford, 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
We look at yards and units across Oxford where the business use has run its course or the site sits awkwardly among houses. Possible for larger estates being phased out.
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WantedAllocated and promoted land
We are interested in land around Oxford at any plan stage, from a first submission to an adopted allocation. Suits land at earlier plan stages.
Learn moreTowns we cover in Oxfordshire
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.
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.
Do you use option agreements for land in Oxfordshire?
Yes. We use option agreements across Oxfordshire and the rest of England, where the structure suits the site and the owner.