Option

An option grants one party (option holder) the exclusive right to acquire or take possession of a commercial property under agreed terms, while the other party (option grantor) remains bound to honour that right. The option holder may freely choose whether and when to exercise the option.

Common elements of a property option include:

• A fixed purchase price or rental rate established in advance
• An option period defining the window in which the right can be exercised
• Specific conditions or triggers tied to exercising the option

Options are frequently deployed in lease arrangements for expansion or purchase scenarios, and in transactions where occupiers need to validate operational fit before committing.