999-year Lease

A 999-year lease is, under historic common law, essentially a nominal lease of property for life. The lease locations are mainly in Britain, its former colonies and Commonwealth. The longest possible term of a lease of real property is often legally a 99-year lease.

A number of other land and property leases use a 999-year lease agreement:

Leased Item Type Place Year term Lease by Leased to Notes
Queen's Park parkland Toronto, Ontario Canada 1859–2858 University of Toronto Province of Canada (Canada West) park is now home to the Legislative Assembly of Ontario and leased to the Government of Ontario
Point Pleasant park Halifax, Nova Scotia, Canada 1866–2865 city of Halifax, Nova Scotia Crown
Commonwealth Institute building site property London, England United Kingdom 1951–2950 Holland estate Commonwealth Institute
Pusey House, Oxford property England United Kingdom 1981–2980 Oxford, England Oxford University excluded chapel
The Crystal Palace cost of building venue London, England United Kingdom 1851–2850 Joseph Paxton seat holders/owners to financed by the sale of seats for ₤100
Ontario and Quebec Railway railway company eastern Ontario and Quebec Canada 1884–2883 Canadian Pacific Railway owners of the OQR now owned by St. Lawrence and Hudson Railway, a subsidiary of the CPR
CFL Fortuna Fish Farming Limited (now Falklands Fish Farming Limited) operating license Falkland Islands Template:FAK 2007–3006 government of the Falkland Islands CFL Fortuna Fish Farming Limited (now Falklands Fish Farming Limited)
Inverhuron Provincial Park park Inverhuron, Ontario, Canada 1973–2972 Ontario Hydro Ministry of Natural Resources (Ontario) lease now controlled by Bruce Power
site of proposed Liverpool F.C. stadium property Liverpool, Merseyside, England United Kingdom 2006–3005 Liverpool City Council Liverpool F.C. for land on the proposed site of the club's new stadium
Royal Albert Hall financing London, England United Kingdom 1871–2870 The Corporation of the Hall of Arts and Sciences seat holders/owners by selling seats and boxes
Millennium Dome property and surrounding land London, England United Kingdom 2001–3000 UK Government Quintain and Australian retail developer Lend Lease
Hampshire CCC land Hampshire, England United Kingdom 1996–2995 Queen's College Hampshire County Cricket Club former farmland
St. John's Cathedral church Victoria City, Hong Kong Hong Kong 1847–2846 British Crown freehold again; land owned by the Government of Hong Kong
WACA Ground stadium Perth, Western Australia, Australia 1889–2888 Government of Western Australia Western Australian Cricket Association reclaimed land from the Swan River
Mullaperiyar Dam dam and water Cardamom Hills, Kerala India 1886–2885 Maharaja of Travancore, Visakham Thirunal
after 1949State of Travancore-Cochin
after 1956Government of Kerala		 British Secretary of State for Periyar River Irrigation
after 1947Madras State
after 1969Government of Tamil Nadu		 The lease was made after 24 years of negotiation.

Famous quotes containing the word lease:

    “Shall I compare thee to a summer’s day?
    Thou art more lovely and more temperate.
    Rough winds do shake the darling buds of May,
    And summer’s lease hath all too short a date.”
    —William Shakespeare (1564–1616)