500sqft Maafanu land for long term lease

Details

500sqft land in Maafanu, Male’ (near Index Furniture) for long term lease. The land has a building already (with 5 rooms and one bathroom, living area attached to kitchen). the plot is accessible through a five feet wide alleyway that is solely for renters’ use. (no entrances to other houses or buildings through the alleyway) Current building is ideal for expat housing.

The current building can be torn down for redevelopment if needed. Would be willing to lease for more than 25 years.

Payment terms negotiable. Willing to accept an initial payment of MVR 600,000. If paid, the monthly rent will be waived for the first two years.

Monthly rent – MVR 35,000 (negotiable)