Valrus specialists acted as judicial experts in challenging the cadastral value of a commercial and office center with an economic deterioration unusual for the commercial real estate market in Moscow.
Economic depreciation in relation to real estate is caused by external objective factors that negatively affect their commercial attractiveness.
The object in question is the buildings of the production workshops of the "Sickle and Hammer" plant, which ceased to exist for quite a long time, converted for commercial and office purposes. During the liquidation of the plant, reconstruction was carried out in these workshops in 2003-2005, during which they were redesigned for use in commercial and office purposes. Subsequently, this object was named the Rogozhskaya Zastava Shopping and Office Complex, it is located at the address: Moscow, Zolotorozhsky Val str., 11, pp. 26 and 27.
According to the trade and office classification, this commercial object can be classified as "B-", if not "C".
At the time of the conversion of buildings for commercial and office purposes, the facility was commercially attractive and among the anchor tenants were companies such as: Sportmaster, Finn Flare Discount, Familia, Platinum Fitness and a number of others.
However, after some time, in the quarter of the location of the object in question, modern commercial real estate was built, which is a direct competitor to the "Rogozhskaya Zastava" shopping and office complex. These are, first of all, the "Gorod" shopping and entertainment center and the "Integral" business center. Soon the construction of the residential quarter "Symbol" began, which also includes commercial real estate. As a result, the areas of the "Rogozhskaya Zastava" shopping and office complex have become unclaimed, since the former production areas cannot compete in quality with modern commercial and office buildings. As of the valuation date (January 1, 2018) and the date of inspection, a huge part of the premises of the "Rogozhskaya Zastava" shopping and office complex is empty, the underloading coefficient is more than 50%, and even reduced rental rates to the level of 10 thousand rubles per sq.m. low and comfortable rental conditions do not find a place in the local market with such aggressive competition.
The task of Valrus experts was to collect objective evidence that due to the current surrounding development, the buildings of the "Rogozhskaya Zastava" shopping and office complex have a large economic depreciation and it is incorrect to consider these objects according to typical average market price indicators of commercial and office real estate of class "B-".
The court agreed with the arguments of our company's experts, and the cadastral value of the disputed objects was established on the basis of a forensic examination prepared by our team.