This agreement is often used in the property development sector where a developer seeks to secure the right to buy a piece of land, but needs time to conduct due diligence and obtain necessary planning permissions.
Under this agreement, the land remains in the landowner’s possession while the developer undertakes the required steps to determine the viability of the project. The agreement stipulates a fixed period during which the developer will exercise the option to buy the land at an agreed price or a price determined by a specified formula.
If the developer chooses not to exercise the option within the agreed timeframe, the agreement lapses, and the landowner retains full ownership and control over the property.
Land Option Agreements benefit both parties: landowners substantial increases in land value, without immediately selling their land, while developers minimise risks associated with purchasing land outright before ascertaining its development potential. These agreements are essential tools in strategic land development, allowing for careful planning and assessment before significant investments are made.
Focused on properties with a maximum land value of £3.5 million.
Open to acquiring sites without planning consent, under specific conditions.
Targeting sites capable of accommodating a minimum of 20 units and a maximum of 60 units.
Will consider smaller sites, especially those exempt from Affordable Housing requirements and located near East Grinstead.
Looking for greenfield sites suitable for strategic land promotion.
Seeking brownfield lands for redevelopment and transformation.
Our primary areas of operation predominantly encompass Sussex, Surrey, and West Kent, although our services are not exclusively confined to these regions.
Entering into a contract, especially with a house builder for your land, can seem overwhelming.
The following section aims to demystify the process, explain the rationale behind specific contractual timeframes, and most importantly, assure you how your interests are safeguarded throughout.
After receiving an approach from Whitehall Land, we arrange a face-to-face meeting on your site.
This is a critical opportunity for us to explore the development potential of your land together, discussing various possibilities.
Post-meeting, our team at Whitehall Land conducts a thorough analysis of your site’s potential and limitations.
This includes evaluating factors such as site access, exposure to open countryside, and proximity to existing settlement boundaries.
We also assess the current status of the Council’s Development Plan to devise an appropriate planning strategy for a potential housing scheme on your land.
Upon completing our assessment, we present a written offer for your land. This offer typically outlines key components like:
After you receive our formal offer letter, we believe it’s essential to have a face-to-face meeting.
This allows us to explain the rationale behind our offer, particularly the timelines involved, and provides an opportunity for you to ask any questions regarding the planning strategy.
Such direct communication ensures complete clarity and understanding for both parties.
Following our agreement on the offer letter, the next step involves Whitehall Land preparing the Heads of Terms.
These are the key elements that will form the basis of the Option Agreement.
Our approach is to tailor these terms to suit both the specific characteristics of the site and any personal circumstances.
We design every term to safeguard the interests of both parties while providing the necessary flexibility to implement the planning strategy, secure planning permission, and ultimately acquire the land at a fair market value.
Upon agreement of the Heads of Terms (or earlier, if preferred), we will engage our respective legal teams.
The lawyers’ role is to finalize the specific terms of the Option Agreement.
This agreement will detail the terms previously outlined and clearly define the obligations of us as the developer, as well as the steps required from the granting of satisfactory planning permission through to the acquisition of the land.
When both parties are satisfied with the terms of the agreement, Whitehall Land proceeds with the payment of legal and option fees, leading to the execution of the contract.
With the security provided by the Option Agreement in place, we then commence the investment of significant resources required for the presentation and promotion of the site to the Local Authority.
This step marks the beginning of a proactive phase where Whitehall Land dedicates its efforts and resources towards advancing the site’s development potential.
Explore Your Local Authority’s Local Plan: As a leading developer, we closely monitor the evolving Local Plans within our area of coverage, to inform our land acquisition strategy.
To gain insights into how your land fits within the current local planning framework, simply CLICK on your relevant Local Authority below. This information will help you understand where they stand with their Local Plan, and how this influences the timeline and specifics of the agreements we will establish for your land.
Registered with Companies House:
Whitehall Homes LLP
Company Number: OC355311
Dorset House, Second Floor,
64 High Street, East Grinstead
West Sussex RH19 3DE
Monday to Friday: 9:00am to 5:00pm
Saturday & Sunday: closed
Telephone: 01342 314915 (option 5)
Note: office is closed for National & Bank Holidays.
Whitehall Homes LLP
Dorset House
64 High Street
East Grinstead
West Sussex
RH19 3DE
