The lease will be granted at a peppercorn rent with the academy being responsible for the future maintenance and repair of the buildings and site and other outgoings.
Many adult children only pay a peppercorn rent (a nominal rental sum), or no rent at all, leaving their parents to meet the true cost of bills and food.
The speed of change is also accelerating, enabled by a range of digital technologies along with cloud-based services offering enterprise-grade computing at peppercorn rents.