The Guinness brewery has a very long lease.....

Discussion in 'After Hours Lounge (Off Topic)' started by Dennis Nicholls, Dec 8, 2006.

  1. Dennis Nicholls

    Dennis Nicholls Lead Actor

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    I'm used to US law. Most states limit the terms of a freehold lease of real property to a term of 99 years.


    Apparently Ireland has different laws. When the Guinness brewery was established in the 1700's, the investors were certain they had a sure thing....brewing beer in Ireland. [​IMG]


    They signed a 9,000 (NINE THOUSAND) year lease on the property where the brewery was built. [​IMG]


    www.guinness-storehouse.com/some_history.htm
     
  2. KurtEP

    KurtEP Supporting Actor

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    Wow, talk about dead hand control.
     
  3. Yee-Ming

    Yee-Ming Producer

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    999 year leases are not uncommon here, as a relic from colonial days, although I don't think any have been newly created in recent times. In practice, a new development built on land under a 19th century 999 yr lease (which has 800+ yrs to run) is valued almost the same as one built on freehold land.
     
  4. Eric Kahn

    Eric Kahn Guest

    I wonder if they are still paying only 45 pounds a year. (or the Euro equivalent)
     

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