Words / P / Business

pre-let

noun/ˌpriːˈlɛt/

C2CEFR level
80/100Rarity: very rare
TechnicalRegister

A lease agreed on a building before its construction is complete.

A pre-let to a major bank de-risked the whole development for the funders.

Topic: Real estate & property in Business English

Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.

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More business words: Real estate & property