long lease

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

In exchange for the land on a long lease from the council, it delivers what it calls social value: affordable homes for rent to members of the community.

From BBC

“The company’s ownership of the decades long lease for the station building stands to enhance the speed that we can realize the benefits of the redevelopment of this critically important infrastructure asset for the region,” said McAndrews.

From Washington Post

"We have a long lease at Soldier Field. It's a great place. But we're all looking to the long term and trying to look at alternatives, and that's what the Bears are doing," he said.

From Fox News

We signed a short lease on a studio, then a long lease on a house — which we broke in September when I received a job offer in Washington.

From Washington Post