In December 2016, VALRUS took part in the assessment appeal of “Tryokhgornaya Manufactory” business complex. VALRUS’s 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.