An Option is an agreement to purchase property or land which is exercisable by one party.  It is up to the buyer whether or not they wish to go ahead with the purchase for a fixed time period, but at the same time offers the buyer certainty they can exclusively purchase the property during that period.

As a seller you may not have the resource or time to maximise the development potential of your property or land and the use of an Overage agreement allows you to capture some of the future increase in the value of the land where a subsequent owner has increased the development potential of the land.

Our Commercial Property Team will often recommend that commercial property contracts are looked at in conjunction with other professionals such as surveryors,   achitects and accountants to try and ensure the deal best suits you.