Option agreement for land in Somerset
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 Somerset
Considering an option agreement for land in Somerset? Here is how it works and where it fits. Somerset, as used here, includes Bath, Weston-super-Mare, Portishead, Clevedon and Keynsham as well as Taunton, Yeovil, Bridgwater and Frome. Green Belt lies around Bath and Bristol in the north, and Exmoor National Park and the Mendip Hills, Quantock Hills, Blackdown Hills, Cranborne Chase and Cotswolds National Landscapes cover much of the rest. The Somerset Levels and Moors are at high flood risk, so sites on higher ground are often favoured.
Nutrient neutrality advice linked to the Somerset Levels and Moors protected sites has affected housing across much of the county. The M5 corridor through Bridgwater and Taunton, and growth linked to Hinkley Point C, have increased demand for land near those towns.
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.
In England, a planning permission normally has to be implemented within three years unless the council sets a different period, and councils aim to decide minor applications within eight weeks and major ones within thirteen.
Some land in Somerset 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 Somerset fall within Exmoor National Park, Mendip Hills National Landscape, Quantock Hills National Landscape, Blackdown Hills National Landscape, Cranborne Chase National Landscape and Cotswolds 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 Somerset that often suits an option agreement
WantedLand without planning permission
Near Taunton, 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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WantedBrownfield land
In Taunton, 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 Taunton, 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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WantedFarmland and paddocks
We are looking for farmland near Taunton 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
Where Green Belt land in Somerset is already hemmed in by roads or existing homes, a grey belt case may be worth testing. The common route: promoting Green Belt land can take time.
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WantedCommercial and industrial sites
In Taunton, 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 Taunton 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 Taunton, 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 Somerset
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 Somerset?
Yes. We use option agreements across Somerset and the rest of England, where the structure suits the site and the owner.