Strategic Land

Option and Promotion Agreement for Green Belt Site, Reigate

We advised a house builder client on the structuring and completion of a 10-year option and promotion agreement in relation to a strategic green belt site in Reigate, Surrey.

The site is being promoted for residential development with an anticipated Gross Development Value (GDV) of approximately £20 million, subject to the securing of planning consent.

The Challenge

Strategic land transactions require long-term thinking, careful risk allocation, and clear drafting to protect value over extended promotion periods. In this case, the site was located within the green belt, adding a further layer of planning sensitivity and uncertainty.

Key challenges included:

Structuring a long-term option and promotion arrangement aligned with the client’s commercial objectives
Ensuring appropriate incentives and controls for the promoter
Protecting the house builder’s position on valuation, costs, and future acquisition
Anticipating changes in planning policy and market conditions

Our Role

We provided specialist advice throughout the negotiation and documentation process.

Option and Promotion Structure

Advised on the optimal structure of a combined option and promotion agreement
Drafted and negotiated a 10-year agreement reflecting the commercial dynamics between landowner, promoter, and developer
Ensured clear mechanisms for promotion, cost recovery, and decision-making

Planning and Value Protection

Incorporated robust provisions dealing with planning strategy, appeals, and changes in planning policy
Negotiated valuation and sale provisions to protect future GDV and ensure transparency on disposal
Advised on overage-style mechanisms and uplift sharing where appropriate

Risk Management

Secured protections relating to termination, default, and long-stop dates
Ensured flexibility to respond to market and policy changes over the life of the agreement
Safeguarded the client’s position in relation to funding, acquisition, and future development

The Outcome

The option and promotion agreement was successfully completed, providing a clear framework for the long-term promotion of the site while appropriately managing green belt planning risk.

Why Choose Us?

Strategic Land Expertise – Extensive experience advising on option, promotion, and collaboration agreements.
Commercial Focus – Advice shaped by real-world development and funding considerations.
London & South East Strength – Deep knowledge of land promotion schemes across London, Surrey, and the wider UK.
Long-Term Partnerships – Trusted advisers to house builders and landowners on multi-year strategic projects.

Get in Touch

If you are a house builder, landowner, or promoter considering a strategic land opportunity, our commercial property team can provide clear, pragmatic advice on option and promotion agreements.

Get in touch

I can only recommend Ashworths. Been using them for over 15 years, simply the best.”

Mr V. London