Land Option Agreements in Portadown
Think of an option on land in Portadown as a reservation with conditions attached. You agree not to sell to anyone else for a set term. In return, Land to Homes funds the planning work and pays your reasonable legal fees, agreed up front in the heads of terms. If permission is granted, we can buy at the formula price you agreed.
Portadown · BT62Free 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
Land we look at around Portadown
Portadown (BT62) anchors our coverage of County Armagh, which takes in 2 other places. Close by, our coverage also takes in Lurgan, Banbridge and Armagh.
Typical sites we review near Portadown include paddocks on the edge of Portadown, land that already has planning permission and redundant agricultural buildings. As Portadown is in Northern Ireland, applications are judged against the Strategic Planning Policy Statement, and the buyer of land pays Stamp Duty Land Tax (SDLT).
Send us a postcode in or near BT62 and we will start with a free desktop appraisal.
Why work with Land to Homes in Portadown
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.
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.
Right to buy, not obligation
The developer may buy if suitable planning is granted, but does not have to. You are bound not to sell elsewhere during the term, which is why its length and exit points matter so much.
Price set by valuation
The purchase price is usually market value with planning, agreed between the parties or set by an independent surveyor, less a negotiated discount. A minimum price clause can put a floor under the figure.
How the rules work in Portadown
Permission in Principle, an English route, does not apply in Northern Ireland. Instead, landowners near Portadown usually seek outline or full planning permission from the council. Developer contributions are agreed under Section 76 of the Planning Act (Northern Ireland) 2011, and there is no Community Infrastructure Levy. Land to Homes can take on that process through an option or promotion agreement, or buy a suitable site directly, subject to survey, title and contract.
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.
| National planning policy | Strategic Planning Policy Statement (SPPS, Edition 2), applied with retained Planning Policy Statements until each council adopts its Plan Strategy |
|---|---|
| In-principle consent | Outline planning permission, with reserved matters approved later |
| Land transaction tax (paid by the buyer) | Stamp Duty Land Tax (SDLT) |
| Land registration | Land & Property Services (Land Registry and Registry of Deeds) |
Common questions in Portadown
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.
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.
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 the difference between an option and a promotion agreement?
Under an option, the developer buys the land itself at a formula price, so it benefits from a lower valuation. Under a promotion agreement, the promoter sells the land on the open market with you and takes a fee from the proceeds, so both sides want the highest price. Our guide compares the two in detail.
Is Portadown an area you cover for land?
Yes, we cover land in Portadown and elsewhere in County Armagh, including Lurgan and Armagh. 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: Section 106 and affordable housing: what landowners should know