Trekhgornaya Manufactory 2017

Valrus Ltd. took part in the project of the assessment appeal of JSC Trekhgornaya Manufactory JSC.

“Trekhgornaya Manufactury” business park is a former manufacturing area of a textile enterprise, which is currently undergoing redevelopment into a modern loft quarter.

There are over 30 buildings with a total area of more than 130 thousand sq.m. located in the territory of the manufactory.

Some of the buildings are reconstructed for commercial activities – offices and retail real estate, restaurants and public catering, some of the buildings are used as production sites and in the future will also be modified for commercial purposes.

Earlier in 2016, specialists of Valrus Ltd. and Land Lawyers Association had successful experience of the assessment appeal of 4 buildings of Trekhgornaya Manufactory.

Valuation of Valrus Ltd. successfully passed approval in the Commission at the Rosreestr in Moscow.

In 2017 Valrus Ltd. experts appraised almost all the properties included in the complex of real estate of Trekhgornaya Manufactory, i.e. land plots with a total area of more than 7 ha forming the territory of the loft quarter and 19 buildings of the business park intended for various purposes including office, retail, entertainment and warehousing activities.

Range of assessment appeal services provided by Valrus Ltd. included:

• valuation of all real estate objects (land and capital construction properties) and preparation of reports on the assessment of their market value;
• defense of reports in the Rosreestr Commission in Moscow (some of the properties received positive conclusions at that stage);
• obtaining approvals of forensic experts to conduct forensic examinations of properties for which a negative decision was received in the Commission;
• during the Court hearings we conducted an analysis of forensic examinations to ensure that the results are consistent with market data, the expert’s opinions are reasonable and have no sufficient mistakes, as well we were ready to provide the objections in case of disagreement with the final results.

Upon completion of the Court hearing, the forensic examinations performed by different experts (TOP-Consult, BOLARI, Business Appraisal Bureau) in fact confirmed results of the valuation of Valrus Ltd experts.

The total cadastral value of the land plots amounted to 9 billion rubles, the total cost reduction was about 46%, which gave the client more than 60 million rubles annual savings on land lease.

The cumulative cadastral value of the buildings exceeded 12 billion rubles.

The market value decreased from 30% to 70%, compared with the cadastral one, which allows tax saving of more than 80 million rubles for the period of 2017 only and even more for the tax period in 2018 due to property tax rate increase.