Unlet

The word "unlet" is an archaic and uncommon verb meaning to release or fail to lease (property or a business opportunity) to someone. It suggests a missed opportunity or a space that remains unoccupied or unused. It implies that something was available but was not taken advantage of, often with a connotation of a missed chance or economic loss. The term is primarily used in legal or business contexts, describing the status of property or other assets that could have been utilized to generate income but weren't, due to a lack of a lease, sale or usage.

Unlet meaning with examples

• The prestigious office building remained unlet for months after the economic downturn, a stark reminder of the challenges faced by landlords in securing tenants and generating revenue. This lack of leasing significantly impacted the property's value and the owner's financial performance, leading to a search for creative solutions.
• The developer was disappointed that several prime retail spaces within the newly constructed mall were unlet during the crucial holiday shopping season, impacting potential profits. The absence of tenants led to a negative perception of the mall and it's marketability.
• Due to zoning restrictions and a high rate of empty offices, a number of industrial sites were unlet, deterring the economic activity for many years. The lack of business was further exasperated by the increasing costs of maintenance and repairs.