February 07, 2014, the Arbitration Court of Samara came to a positive decision upon application of Castorama Rus to set the cadastral value of a land plot under the hypermarket of construction materials and home products, located in the Kirov district, Moscow highway, 18 km., 27A.
Due to valuation the cadastral value was changed from 230, 4 million rub. to market level. As of January 01, 2013, (the date of the State Cadastral Valuation) the market price, defined by our experts, was 77, 2 million rub., which was 33, 5% of the State Valuation (the reduction made up 66, 5%). The report was submitted to the Court with the conclusion of the Russian Society of Appraisers (self-regulated organization), which confirmed the cost, performed by valuers, and proved the model report in accordance with legislation and valuation standards.
To review the case, please, visit Arbitration Court web site: http://kad.arbitr.ru/Card/4cc69c0e-4588-48e8-a642-2266858a9edc
We often perform the regional projects by involving partners of the region concerned. Careful selection of partners and multilevel quality control of valuation enables us to provide our customers with high quality services at the maximum geographical coverage. During this particular work the experts of “Territorial Appraiser Agency” were involved (Director General V.P. Lobanov).
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Castorama is part of British Kingfisher company. Kingfisher group – is more than 900 shops in Europe and Asian markets, it takes a leading position on the market for home of household goods and repair in Europe, the third-largest DIY chain in the world. 'Kingfisher' Group is an international business. More than 50% of sales and the Company's profit are made by the countries outside the UK. The International activity of “Kingfisher” is implemented in China, Poland, Italy, Spain, Greece and others. In Russia the activity is carried out by "Castorama Rus".
The company puts great stress on the chain development in the regions.The first store was opened in 2006 in Samara. The format of stores- hypermarkets with area of 10 000 sq.m. with assortment over 35 thousand items.Today the chain in Russia consists of 19 stores which are located in Moscow and Moscow region, St. Petersburg, Perm, Samara, Tolyatti, Rostov-on-Don, Omsk, Krasnodar, Voronezh, Nizhny Novgorod, Saratov, Yekaterinburg, Chelyabinsk and Ufa.