Land Option Agreements in Bangor (County Down)
A land option agreement in Bangor (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.
Bangor (County Down) · BT20Free 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 Bangor (County Down)
Bangor (County Down) is the main town we cover in County Down, centred on postcode district BT20. If your land sits between towns, Newtownards, Carrickfergus and Newtownabbey are the closest neighbouring places on our list.
Around Bangor (County Down) we look at fields put forward or allocated in the local plan, farmland next to the settlement boundary and redundant commercial buildings. Planning in Bangor (County Down) follows Northern Ireland’s rules: the Strategic Planning Policy Statement sets national policy and the council’s Local Development Plan sets local policy.
Tell us where your land is around Bangor (County Down) and we will explain the routes open to you.
What we offer in Bangor (County Down)
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.
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.
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.
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.
Planning and land rules in Bangor (County Down)
Land to Homes works with landowners across Northern Ireland, including in and around Bangor (County Down). We start with a free appraisal of planning policy, access and constraints, then set out a direct offer or option or promotion terms in writing. Each council's Local Development Plan is prepared in two stages, a Plan Strategy and a Local Policies Plan, so the stage your council has reached affects how a site is assessed. Planning permission is never guaranteed.
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.
| Local planning document | Local Development Plan (LDP), made up of a Plan Strategy and a Local Policies Plan |
|---|---|
| In-principle consent | Outline planning permission, with reserved matters approved later |
| 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 Bangor (County Down): questions
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.
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.
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.
Do you work with landowners in Bangor (County Down)?
We do. We work with landowners in Bangor (County Down) and elsewhere in County Down, including Downpatrick, Newtownards and Banbridge. Send us a postcode and we will start with a free, no-obligation appraisal of what the land could take.
Read more: Land Option Agreements · Guide: Section 106 and affordable housing: what landowners should know