peppercorn rent

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peppercorn rent (plural peppercorn rents)

  1. A nominal rent, originally of a single peppercorn. [from 16th c.]
    • 2016, Simon Heffer, Literary Review, May 2016 p. 1:
      Where public libraries are scheduled for closure, their premises and stock should be offered at a peppercorn rent and on a long lease to any subscription library wishing to take them over.