In December 2016, VALRUS took part in the assessment appeal of 'Tryokhgornaya Manufactory' business complex.
In December 2016, VALRUS took part in the assessment appeal of “Tryokhgornaya Manufactory” business complex. VALRUS’ experts performed appraisal of 4 buildings of that complex with total area of 31 623, 9 sq.m. located at the address: Moscow, Rochdelskaya street, bld. 8, 13,23,43 (cadastral number: 77: 77:01:0004033:1015, 77:01:0004033:2418, 77:01:0004033:1018 & 77:01:0004033:1009). The properties present the former oldest textile manufacture of Moscow redesigned to a commercial real estate, in particular, office and retail premises.
The main difficulty is that the properties are the unique oldest constructions and their design features are not typical for a commercial real estate. At the same time the complex has a good location and high investment attractiveness.
In cooperation with “Association of Land Lawyers” the experts of VALRUS provided strong argumentation on the issue of a high cadastral value of the property at the session of the Commission on January 24, 2017. As a result, the Commission found the justification persuasive and, thus, admitted a market value as well-defined.
Due to assessment appeal the reduction amounted to 51% (cadastral value 2 513 201 000,00 rub.), the economic outcome was the tax economy on the real estate which was approximately 34 000 219,51 rub.