Lease / Leasehold

[promdressers]

This may sound like a stupid question, but here goes :

Is a lease essentially legally the same as a leasehold?
I have owned business premises by freehold, and I have had a couple of premises with an easy in/out lease, as well as a formal 9 year/3yr break lease.I have never had a premises on a "leasehold".

I understand that, domestically, you would buy a leasehold property, for similar prices to F/hold, and then pay a peppercorn rent .

But can commercial leaseholds work in the same way, ie, buy a 99/999 year lease with a PC rent, or do you always pay (or not) a fee to assign the lease and pay a large monthly rent.

Please note that I am not asking this due to me buying such a place,but more for general information, and to understand what a local businessman claims he has done?

All the best, and thanks

 

[Highland Spring]

No a leasehold is the same as purchasing a property just for a fixed period rather than the freehold which is forever.

A lease is that - short or long term rental with no ownership.

 

[promdressers]

No a leasehold is the same as purchasing a property just for a fixed period rather than the freehold which is forever.

A lease is that - short or long term rental with no ownership.

Thank you. Nicely clarified.

So, a Leasehold is ALWAYS brought about by payment of a sum roughly equivalent to a Freehold, followed by a peppercorn rent, and never by a relatively small payment followed by larger rental payments?