Option sold on private residence

I have sold an option to buy my house (my residence) to a developer for £20,000. This gives the developer the option to buy my house for £200,000 within the next year. If he goes ahead with the purchase, he will give me the remaining £180,000. If he does not go ahead, I keep the £20,000. Would the option I have sold still be elegible for private residence relief, even if he does not eventually buy the property? If not, how would it be taxed?

Hi,

Private Residence Relief would cover the gain, provided the property remains your private residence, as it would be part of the disposal value of the property.

Thank you