Option agreements for land in Penarth
If you own land in or around Penarth, option agreements is one of four ways you can sell it to us. Here's how it works and when it makes sense.
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.
- Free appraisal and written offer
- No commission: we're the buyer
- No pressure to decide
Tell us about your land
Send the postcode and a rough size.
Where Penarth sits
Penarth lies in South Glamorgan, some 3 miles south of Cardiff. Nearby, we also look at land around Dinas Powys (2 miles), Cardiff (3 miles) and Llandaff (4 miles).
Cardiff and the Vale of Glamorgan, where demand for homes is high and the city's edges are managed through green wedge policy.
| Town | Penarth |
|---|---|
| County | South Glamorgan |
| Country | Wales |
| Postcode district | CF64 |
| OS grid square | ST17 |
| Nearest towns we cover | Dinas Powys (2 mi), Cardiff (3 mi), Llandaff (4 mi) |
| Distance from Cardiff | About 3 miles south |
| 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?
- Land being considered in a local plan review
- Land needing access or infrastructure to be unlocked
- Owners who want to keep farming until development
- 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.
What to check in an option agreement
Purchase price
Often a percentage of market value with permission, less agreed costs.
Minimum price
A floor that protects you if values fall.
Exercise triggers
What has to happen before we can buy.
Your obligations
Agreements set what you can and can't do with the land in the meantime.
Land near Penarth that an option agreement suits
Land with planning permission in Penarth
Rarely needed once consent exists, but can suit phased sites.
Large strategic sites in Penarth
The usual route: an option fee now and a price based on market value later.
Paddocks and equestrian land in Penarth
Useful where the paddock could form part of a wider site.
Landlocked land and access problems in Penarth
Useful while access is negotiated with neighbours.
From first call to completion
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're worried about the deductions
Ask for a clear list and a cap on what can be deducted. We'll explain each one.
You want to be sure we'll actually pursue planning
Agreements can include obligations to use reasonable endeavours and set milestones.
Useful to send us
- A rough size, in acres or hectares
- A plan, or a screenshot from an online map
- Your title number, if you know it
- Details of any tenants or grazing agreements
Your questions answered
Do I keep the option fee if you don't buy?
Normally, yes. The terms are set out in the agreement.
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.
Can you visit land near Penarth?
Yes. Once we've looked at the title and planning position, we arrange a site visit if the land looks suitable. Send the address or postcode to start.
Nearby towns
More land we buy in Penarth
- 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 Penarth
- Option agreements in South Glamorgan
Find out what we'd pay for your land near Penarth
A free appraisal tells you what we'd pay and why.