Share this entry

Share this page

peppercorn rent

Line breaks: pepper|corn rent

Definition of peppercorn rent in English:

noun

British
A very low or nominal rent: the houses were let for a peppercorn rent
More example sentences
  • Payment of the peppercorn rent has been an annual ceremony ever since Henry Whistler, a London merchant, leased the Ouse-side structure from the city in 1677 to use as a water tower supplying York.
  • Now they want to privatise it for a peppercorn rent of one pound.
  • The city council eventually bought the site and agreed to rent it out on a peppercorn rent for art and culture.

Origin

from the (formerly common) practice of stipulating the payment of a peppercorn as a nominal rent.

Share this entry

Share this page

 

What do you find interesting about this word or phrase?

Comments that don't adhere to our Community Guidelines may be moderated or removed.

Get more from Oxford Dictionaries

Subscribe to remove ads and access premium resources

Word of the day tenebrous
Pronunciation: ˈtenəbrəs
adjective
dark; shadowy or obscure