peppercorn rent

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peppercorn rent

n
a rent that is very low or nominal
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
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Noun1.peppercorn rent - very low or nominal rent
Britain, Great Britain, U.K., UK, United Kingdom, United Kingdom of Great Britain and Northern Ireland - a monarchy in northwestern Europe occupying most of the British Isles; divided into England and Scotland and Wales and Northern Ireland; `Great Britain' is often used loosely to refer to the United Kingdom
rent - a payment or series of payments made by the lessee to an owner for use of some property, facility, equipment, or service
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
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However, the net initial yield on acquisition does not reflect the expiry of leases on peppercorn rents in 2019 which are reversionary and, if current market rates are realised, should increase the headline rent by approximately GBP 11m.
What happens after peppercorn rents for five years or a grant run out?" She said options included setting up a charity, which could secure grants, rate reliefs and other income.
There are many vacant properties in all the borough districts and yet they would rather them be boarded up than to give them for peppercorn rents to small business etc.
The estates were leased out on long-term peppercorn rents.
"I understand these are peppercorn rents and will need to go up and that the council is trying to make savings everywhere.