Tishinka Retail and Exhibition Centre

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Tishinka Retail and Exhibition Centre
20 December 2017

Appointment of Valrus Ltd for carrying out the forensic examination on three different properties, which in fact represent one real estate property consisting of a building with a land plot and surrounding area, is one of the examples of well-coordinated work of judges and forensic expert on obtaining objective and unbiased result in the cases of assessment appeal in Moscow. 

The three above mentioned cadastral items are the building and the land plot of the shopping and exhibition center Tishinka, a place known for its fairs, exhibitions and flea markets. 

A difficulty of forensic examinations for this property was that two premises, into which the building is divided in the cadastral register, were held not only in two different court cases (3-2884/2017 & 3-3059/2017), but were considered by two different judges as well. The assessment appeal of the land plot under the Tishinka was also held as an individual case (3-2878/2017).

During the court hearing on one of the premises and the land plot, considered by the judge of the Moscow City Court Tatiana Mikhaleva, the applications for the appointment of forensic expert from both the Complainant and the City Property Department were submitted. Nevertheless, the court preferred to appoint a forensic examination to the in-house expert of Valrus Ltd., who repeatedly proved his objectivity, professionalism, including during dealing with cases of the largest and most difficult real estate properties, to name a few.

The case on the second premise, as already mentioned, which in fact represents an inseparable part of the retail, was considered by the judge Mikhail Kazakov. It is worth noting that judges worked in a coordinated manner, having realized that the premises are in fact a single building, they came to a decision that all properties within the three cases should be considered together. The forensic examination on a third case was also assigned to Valrus Ltd. 

During the valuation work Pavel Kartsev PhD MRICS carried out a personal inspection of the real estate, examined legal and technical documents of the property, as well as documents from all three cases, including the assessment reports, on which the owner submitted applications to the Commission of Rosreestr. The building has a number of structural and planning features that distinguish it from a standard retail center - a tent-shaped roof, a large share of non-leasable areas, the areas for exhibition purposes.  In addition, besides retail and exhibition areas, the building has an attached open-type multi-level parking with administrative premises on its top level, as well as storage facilities in the basement. 

The expert thoroughly researched the market of all types of premises being a part of a sole property of retail and exhibition center. A detailed examination of all aspects affecting the value of the real estate properties, allowed to draw up substantiated forensic examinations on all three cases.