Option agreements for land in Colwyn Bay
Before you agree an option agreement on land near Colwyn Bay, it helps to know exactly when you'd be paid, who carries the planning risk and how the price is set.
An option agreement gives a buyer the right, but not the obligation, to buy land within a set period, usually once planning permission is obtained. The landowner receives an option fee up front and, if the option is exercised, a price normally based on market value with permission, less agreed deductions.
- Figures explained, so you can check them
- No pressure to decide
- We fund the planning work
Get an offer for land in Colwyn Bay
Free, no-obligation appraisal.
Where Colwyn Bay sits
Our appraisals for Colwyn Bay start with the LL29 postcode district and the OS grid square SH87, then widen out to Llandudno, Rhyl and Denbigh, all within about 15 miles.
| Town | Colwyn Bay |
|---|---|
| County | Clwyd |
| Country | Wales |
| Postcode district | LL29 |
| OS grid square | SH87 |
| Nearest towns we cover | Llandudno (5 mi), Rhyl (10 mi), Denbigh (15 mi) |
| Distance from Wrexham | About 35 miles north-west |
| Planning system | Planning Policy Wales and Local Development Plan |
| When you're paid | Option fee now, price when the option is exercised |
| Planning costs | Ours, sometimes recoverable from the price |
Is an option agreement right for your land?
- Owners happy to wait several years for a higher price
- Holdings where several owners need to work together
- Land needing access or infrastructure to be unlocked
- Sites with technical issues that need time to resolve
If your land could be allocated in a future local plan, an option keeps it moving towards development without you funding the work.
How the money works
Purchase price
Often a percentage of market value with permission, less agreed costs.
Term
How long we have to secure permission and exercise the option.
Deductions
Which planning and infrastructure costs come off the price before you're paid.
Exercise triggers
What has to happen before we can buy.
Land near Colwyn Bay that an option agreement suits
Development land in Colwyn Bay
Suits larger fields where the planning route may take several years.
Land without planning permission in Colwyn Bay
We pay for the right to buy later and fund the planning work meanwhile.
Brownfield land in Colwyn Bay
Can suit larger brownfield sites with a longer planning route.
Inherited and probate land in Colwyn Bay
Can suit families who want to hold on while planning is explored.
What happens next
Send us the address
A postcode, a plan or a what3words location is enough to start.
We do the homework
We read the title and planning record and check flood risk and access.
You get a written offer
With the main figures behind it, so your adviser can check it.
Solicitors complete the sale
Exchange and complete, or exchange now and complete when planning is granted.
Rules that apply in Wales
Planning framework
Planning in Wales follows Planning Policy Wales, the national plan Future Wales and the Local Development Plan, prepared by the council or, in a national park, the park authority. When plans are reviewed, landowners can put land forward as a candidate site.
Section 106 and CIL
Section 106 agreements apply in Wales, and a small number of Welsh councils charge the Community Infrastructure Levy.
When the land isn't straightforward
You want to be sure we'll actually pursue planning
Agreements can include obligations to use reasonable endeavours and set milestones.
You'd like your advisers' costs covered
Many option agreements include a contribution to the landowner's legal and agent costs. We'll tell you if ours does.
Useful to send us
- The address or postcode
- Any planning applications or letters
- Details of any tenants or grazing agreements
- How soon you'd ideally like to sell
Common questions
How is the price set?
Usually as a percentage of the land's market value once permission is granted, minus agreed costs, with a minimum price. The percentage and deductions are negotiated.
Can I sell to someone else during the option?
Not usually. The option binds the land, and it's normally registered against your title.
What's the difference between an option and a promotion agreement?
Under an option the buyer has the right to buy the land. Under a promotion agreement a promoter gets permission and then sells the land on the open market, taking a share of the proceeds. We offer options, not promotion agreements.
How do I get an offer for land in Colwyn Bay?
Use the form on this page or call 0800 088 6248. Tell us the postcode, the rough size and anything you know about planning, and we'll come back to you.
Other land in Colwyn Bay
- Development land
- Land with planning permission
- Land without planning permission
- Large strategic sites
- Land for affordable homes
- Farmland and agricultural land
- Paddocks and equestrian land
- Barns and rural buildings
- Building plots
- Garden land and backland
- Infill plots and gap sites
- Small sites
- Garage sites
- Brownfield land
- Redundant commercial and industrial land
- Inherited and probate land
- Landlocked land and access problems
- Outright purchase
- Subject-to-planning sale
- Joint ventures
- All land in Colwyn Bay
- Option agreements in Clwyd
Find out what we'd pay for your land near Colwyn Bay
Call 0800 088 6248 or send the details. There's no obligation.