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


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#1 of 4 OFFLINE   Dennis Nicholls

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Posted December 08 2006 - 12:17 PM

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. Posted Image


They signed a 9,000 (NINE THOUSAND) year lease on the property where the brewery was built. Posted Image


www.guinness-storehouse.com/some_history.htm
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#2 of 4 OFFLINE   KurtEP

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Posted December 08 2006 - 12:27 PM

Wow, talk about dead hand control.
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#3 of 4 OFFLINE   Yee-Ming

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Posted December 08 2006 - 07:08 PM

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 of 4 Guest_Eric Kahn_*

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Posted December 09 2006 - 01:50 PM

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




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