long lease

British  

noun

1. (in England and Wales) a lease, originally for a period of over 21 years, on a whole house of low rent and ratable value, which is the occupants' only or main residence. The leaseholder is entitled to buy the freehold, claim an extension of 50 years, or become a statutory tenant

---

Example Sentences

But the prince has a long lease with the Crown Estate and has shown no signs of wanting to budge.

From BBC • Jan. 6, 2024

The biggest difference is the time frame: Rather than being tied to a years’ long lease, subscriptions give you the ability to “own” a car on a month-to-month basis.

From Slate • Dec. 2, 2017

He can make such flat rejections because, even though he doesn’t own his building, he holds an extremely long lease.

From Washington Times • Mar. 12, 2017

With what little money he had left, he purchased a long lease on a 100-acre volcanic island – Restoration Island – just off the remote Cape York peninsula in northern Australia.

From The Guardian • Apr. 23, 2013

Well, to make a long story short, it did immediately drop and, more miraculous still to say, on terms, for a long lease, well within one's means—terms quite deliciously moderate.

From The Letters of Henry James (volume I) by James, Henry