Land Option Agreements in Fraserburgh

Selling land around Fraserburgh

About 38 miles north of Aberdeen, Fraserburgh is part of our Aberdeen & Aberdeenshire coverage, centred on postcode district AB43. Nearby, we also cover Peterhead, Inverurie and Buckie, all within 35 miles.

Typical sites we review near Fraserburgh include brownfield land in and around Fraserburgh, land behind street frontages and farmland next to the settlement boundary. Because Fraserburgh is in Scotland, land titles are registered with Registers of Scotland (Land Register of Scotland) and transfers attract Land and Buildings Transaction Tax (LBTT).

Tell us where your land is around Fraserburgh and we will explain the routes open to you.

What you get in Fraserburgh

Planning funded by us

We commission the surveys, design work and planning application at our own cost, and keep you informed at each stage so you know how the planning case is progressing.

Deductions agreed in advance

Costs such as planning obligations, abnormal ground works or infrastructure are often deducted from the price. The agreement should list exactly what can be deducted, so the price cannot be eroded later.

Keep using your land

You normally stay in possession during the option. Farming, grazing or existing lettings can usually continue, subject to access for surveys and limits on granting new long-term tenancies.

Option premium on signing

Many options include a payment when the agreement is signed, in return for tying up the land. Whether it is deducted from the final price is a point to settle in the heads of terms.

Rules that apply in Fraserburgh

Land sales in Scotland are concluded through missives, an exchange of formal letters between solicitors. Once missives are concluded they form a binding contract, and the buyer takes entry at settlement, then registers the title with Registers of Scotland. For land near Fraserburgh, missives can be made conditional on planning permission in principle, so the sale only proceeds if consent is secured. The buyer pays Land and Buildings Transaction Tax to Revenue Scotland.

In Scotland, an option is a personal contract and cannot be registered as a right in the land itself. Developers usually protect their position with a standard security registered with Registers of Scotland. When the option is exercised, the sale is concluded by missives and the buyer pays Land and Buildings Transaction Tax.

Key rules in Fraserburgh
National planning policy	National Planning Framework 4 (NPF4), which forms part of the statutory development plan
Local planning document	Local Development Plan (LDP)
In-principle consent	Planning permission in principle (PPP), followed by approval of matters specified in conditions
How a sale becomes binding	Land sales are concluded through missives, formal letters exchanged between solicitors that become a binding contract once concluded, followed by settlement on the date of entry and registration in the Land Register of Scotland.

Questions about Land Option Agreements in Fraserburgh

What happens if planning is refused during an option?

The developer can usually appeal, submit a revised scheme or wait for a new local plan, as long as the option term allows. If no suitable permission is secured by the end date, the option lapses and you are free to deal with the land again, normally keeping any premium already paid.

Can I sell my land while it is under option?

Not without dealing with the option first. The developer's rights are normally protected against your title, so a buyer would take the land subject to them. Selling to the option holder or negotiating a release are the usual routes. Your solicitor will explain the effect where your land is.

How does an option agreement work for land?

The landowner grants a developer the exclusive right to buy the land within a set term. The developer spends its own money seeking planning permission. If suitable permission is granted, the developer serves notice and buys at a price worked out under a formula in the agreement, usually market value less a discount and agreed costs.

What is an option premium?

It is a payment a developer may make when the option is signed, in return for exclusive rights over the land. The amount varies widely from site to site and is negotiated. Some agreements deduct it from the final purchase price, while others do not, so the heads of terms should say which applies.

Is Fraserburgh an area you cover for land?

Yes, we cover land in Fraserburgh and elsewhere in Aberdeen & Aberdeenshire, including Stonehaven, Peterhead and Aberdeen. Where a site suits us we can buy it directly, or set up an option or promotion agreement. On promotion there is nothing to pay upfront.