Leasehold of the soil

Leasehold is a property right allowing the tenant long-term use and enjoyment of land, typically for 50, 75, or 99 years with renewal options. The landowner—usually a municipality, institutional investor, or private party—retains ownership and receives annual ground rent, which may be fixed or indexed.

In commercial real estate, leasehold enables operators to develop and use property without spending capital to purchase the land itself. Upon lease expiry, the building and land revert to the owner unless renewal occurs. This structure is common for office, retail, and industrial properties built on leased ground.