Services for Business
Granting of Options Over Property (Option Agreements)
Strategic advice on options over property
Option Agreements can be a valuable tool for landowners and developers, providing flexibility while securing future opportunities. Whether you are granting an option over your land or seeking to secure development potential, clear legal advice is essential.
At Paytons Solicitors, we provide practical, straightforward advice on option agreements, helping you structure arrangements that protect your position and maximise value.
What is an Option Agreement?
An Option Agreement gives one party the right (but not the obligation) to purchase property or land at a future date, usually within a specified period and on agreed terms.
These agreements are commonly used in:
Land with development potential
Strategic land promotion
Conditional sales linked to planning permission
We ensure that the terms are clear, fair, and aligned with your objectives.
How we can help
We advise both landowners and developers on all aspects of Option Agreements, including:
Drafting and negotiating Option Agreements
Advising on option periods and key deadlines
Structuring pricing and valuation mechanisms
Protecting rights and obligations under the agreement
Dealing with conditionality (eg planning permission)
Our focus is on creating robust arrangements that avoid disputes and uncertainty later.
For landowners
If you are granting an option over your land, it is important to ensure the agreement works in your favour.
We can assist with:
Negotiating favourable option terms
Structuring payments, including option fees
Protecting your ability to use or retain the land during the option period
Advising on overage and future value
Ensuring the developer is properly obliged to progress matters
We work to safeguard your long-term interests while maximising the potential value of your land.
For developers
Securing an option can be an effective way to control land while managing risk.
We provide:
Advice on drafting and negotiating Option Agreements
Structuring agreements to allow time for planning applications
Managing risks through conditional provisions
Ensuring flexibility within the agreement
Guidance through to exercise of the option and completion
Our aim is to give you confidence that your position is fully protected throughout the process.
Key considerations
Option Agreements can be complex and involve long-term commitments. Important factors to consider include:
The length of the option period
The purchase price or valuation mechanism
Planning obligations and responsibilities
Rights of access and use during the option period
Overage or profit-sharing arrangements
We explain these clearly in plain English so you can make informed decisions.
Why legal advice matters
Option Agreements are often negotiated at an early stage but can have significant long-term consequences.
Getting advice early can:
Protect your commercial position
Prevent misunderstandings or disputes
Ensure the agreement reflects your objectives
Provide certainty for future development
Our fees
Hourly rates:
| Solicitors/Legal Executives/TEPs with over eight years’ experience/Heads of Department | £280/hour |
| Solicitors/Legal Executives/TEPs with over four years’ experience | £240/hour |
| Other Solicitors/Legal Executives and Fee Earners of equivalent experience | £200/hour |
| Trainee Solicitors/Paralegals | £142/hour |
All of the above prices are subject to VAT @ 20%.
"Thanks ever so much for the time and incredible advice given earlier this week. Was a pleasure meeting you and you really helped me understand the next steps I need to take."
Granting of Options Over Property Team
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