Land Option Agreements in County Down
A land option agreement in County Down 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.
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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 and sites near County Down
Across County Down, we cover Bangor (County Down) and 5 other towns, among them Newtownards, Newry and Banbridge. Next door, we also cover County Antrim, County Armagh and County Tyrone.
Sites worth a conversation around County Down: land that already has planning permission, corner plots and side gardens and large and long rear gardens. In Northern Ireland, where County Down sits, planning decisions are made by the 11 district councils, with the Department for Infrastructure deciding regionally significant applications.
Send us a postcode in or near BT20 and we will start with a free desktop appraisal.
How we work in County Down
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.
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.
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.
Planning in County Down: the Northern Irish rules
Selling land near County Down follows a familiar pattern in Northern Ireland: heads of terms, then an exchange of contracts signed by both sides, which makes the sale binding, and completion. The buyer pays Stamp Duty Land Tax, as in England, and the title is registered with Land Registry, part of Land & Property Services, although older titles may first need moving from the Registry of Deeds. Infrastructure and affordable housing are usually secured through a Section 76 planning agreement.
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 |
|---|---|
| Local planning document | Local Development Plan (LDP), made up of a Plan Strategy and a Local Policies Plan |
| 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) |
| Land registration | Land & Property Services (Land Registry and Registry of Deeds) |
| How a sale becomes binding | A land sale becomes legally binding when contracts signed by both parties are exchanged and finishes on completion, with the title registered in the Land Registry at Land & Property Services. |
| Developer contributions | Section 76 planning agreements under the Planning Act (Northern Ireland) 2011 (there is no Community Infrastructure Levy) |
Land Option Agreements in County Down: questions
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.
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 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.
Is an option payment taxable?
It can be. Receiving an option payment can have tax consequences when you receive it, not only when the land is finally sold, and the later sale may be looked at together with it. The position depends on your circumstances, so speak to an accountant before you sign.
Is County Down an area you cover for land?
Yes, we cover land across County Down, including Downpatrick, Banbridge and Castlereagh. 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: Who pays for land promotion? Fees, costs and legal fees explained