Land Option Agreements in Larne
A land option agreement in Larne gives a developer the right, but not the obligation, to buy your land within a fixed period, normally once planning permission is granted. The developer pays for the planning work. When the option is exercised, the price is usually market value with that permission, less an agreed discount and agreed costs.
Larne · BT40Free site appraisal
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- Free site appraisalNo cost, no obligation
- Legal fees coveredReasonable fees, on options and promotion
- Nothing to pay upfrontOn promotion: we fund planning
- Direct purchaseSuitable sites, with or without planning
- UK-wideEngland, Wales, Scotland and NI
Selling land around Larne
Larne (BT40) is one of the County Antrim towns we cover, about 18 miles north of Belfast. Close by, our coverage also takes in Carrickfergus, Newtownabbey and Bangor (County Down).
Typical sites we review near Larne include land that already has planning permission, infill gaps along existing streets and fields put forward or allocated in the local plan. Planning in Larne follows Northern Ireland’s rules: the Strategic Planning Policy Statement sets national policy and the council’s Local Development Plan sets local policy.
Send us a postcode in or near BT40 and we will start with a free desktop appraisal.
What you get in Larne
Your legal fees paid
On option agreements we pay your reasonable legal fees, with the amount agreed up front in the heads of terms, so you can instruct your own solicitor to review every clause.
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.
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.
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.
Rules that apply in Larne
Countryside planning policy in Northern Ireland is generally restrictive, so land inside or next to the settlement development limits around Larne is usually the strongest prospect for new homes. Outline planning permission can establish the principle, with reserved matters approved later. A promotion agreement lets us fund that planning work, with our costs recovered from the sale proceeds only if the land sells with planning. Your reasonable legal fees are covered too, agreed in the heads of terms.
In Northern Ireland, the option term should reflect where the council has reached in preparing its local development plan, since land is zoned for housing at the local policies plan stage. Price deductions may include Section 76 planning agreement obligations and road works required by DfI Roads. Stamp Duty Land Tax applies on the eventual purchase.
| Who decides applications | The 11 district councils, with the Department for Infrastructure deciding regionally significant applications |
|---|---|
| In-principle consent | Outline planning permission, with reserved matters approved later |
| Land transaction tax (paid by the buyer) | Stamp Duty Land Tax (SDLT) |
| Developer contributions | Section 76 planning agreements under the Planning Act (Northern Ireland) 2011 (there is no Community Infrastructure Levy) |
Land Option Agreements in Larne: questions
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.
How long do land option agreements last?
The term is negotiated and depends on how much planning work is needed. Strategic sites waiting for a new local plan usually need longer terms than small sites with clear policy support. Look for a firm longstop date and sensible limits on any extensions, so the land cannot be tied up indefinitely.
What discount do developers take on a land option?
Options usually include a discount from market value to reflect the developer's cost and risk in securing planning. The level is negotiated case by case and there is no standard figure. Compare it alongside the deductions, minimum price and term, because a modest discount can be undone by wide deductions.
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 Larne an area you cover for land?
Yes, we cover land in Larne and elsewhere in County Antrim, including Antrim, Ballymena and Carrickfergus. 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.
Read more: Land Option Agreements · Guide: Landowner joint ventures explained: sharing in the development