VALUATION SURVEY Specifying Market Value of Land Property Located in Gda Ńsk in the Area of Streets: Benzynowa and Pło Ńska, Plots No
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GDA ŃSKA AGENCJA NIERUCHOMO ŚCI VALUATION SURVEY specifying market value of land property located in Gda ńsk in the area of streets: Benzynowa and Pło ńska, plots no. 147/1, 149/2, 148/3 Ordering Party: Gda ńska Agencja Rozwoju Gospodarczego Sp. z o.o., ul. Żaglowa 11, 80-560 Gda ńsk [photo] Aim of the valuation: determination of market value of the real estate for the purpose of making contribution in kind to the company Prepared by: Beata Jezierska [signature] [oval stamp of the valuation assessor] ul. Orfeusza 16/11, 80 - 299 Gda ńsk phone: 7628133, 0601 681268 1 ABSTRACT FROM VALUATION SURVEY Object of the valuation survey: land property situated in Gda ńsk, in the area of streets: Benzynowa and Pło ńska, plots no. 147/1, 149/2, 148/3 of total area equalling 82536 m 2. Aim of the valuation: determination of market value of the real estate for the purpose of making contribution in kind to the company Subject with rights to the real estate: owner Municipal Commune of Gda ńsk Type of determined value: market value Date of valuation: 28.11.2013 Preparation of the survey: 27.11 -28.11.2013. Estimated value: 7,315,200.00 PLN. /seven million three hundred fifteen thousand two hundred PLN/ valuation survey prepared by: Beata Jezierska [signature] [oval stamp of the valuation assessor] ul. Orfeusza 16/11, 80 - 299 Gda ńsk phone: 7628133, 0601 681268 2 LIST OF CONTENTS I. GENERAL PART .................................................................................................... 4 1.1 Formal regulatory information............................................................................... 4 1.2. Object of valuation .............................................................................................. 4 1.3. Scope of valuation............................................................................................... 4 1.4. Legal status of the object of valuation ................................................................. 4 1.5. Aim of valuation .................................................................................................. 5 1.5. Legal and methodological bases of valuation ..................................................... 5 1.5.1. Formal issues against regulations in force........................................................ 6 1.6. Documents and information used in the course of the valuation.......................... 6 1.7. Date of valuation ................................................................................................. 7 1.8. Conditions and assumptions ............................................................................... 7 1.9. Type of determined value.................................................................................... 7 1.10. Urban planning conditions................................................................................. 8 II. BASIC PART.......................................................................................................... 11 2.1. Selection of approach, methodology ................................................................... 11 2.2. Characteristics of local market ............................................................................ 11 2.3. Features of the real estate .................................................................................. 12 2.5. Economic analysis of the market......................................................................... 13 2.6. Analysis and characteristics of the real estate market in the scope relating to the aim and method of the valuation ………………………………………………………………14 III. DETERMINATION OF MARKET VALUE OF THE PROPERTY……………………. 18 3.1. Determination of real estate market value…………………………………………….18 3.2. Final determination of value of the real property……………………………………..18 4. Clauses and reservations………………………………………………………………….21 ul. Orfeusza 16/11, 80 - 299 Gda ńsk phone: 7628133, 0601 681268 3 I. General part 1.1. Formal-regulatory information Ordering Party: Gda ńska Agencja Rozwoju Gospodarczego Sp. z o.o., ul. Żaglowa 11, 80-560 Gda ńsk Mandatory: mgr in ż. Beata Jezierska Property assessor, license no. 2757 granted by the President of Housing and Urban Development Office, Gda ńska Agencja Nieruchomo ści, ul. Orfeusza 16/11, 80-299 Gda ńsk. 1.2. Object of valuation The object of valuation consists of land property, plots no. 147/1, 149/2, 148/3 of total area 82536 m 2 located in Gda ńsk in the area of streets: Benzynowa and Pło ńska. 1.3. Scope of valuation The scope of valuation includes the determination of the market value of this land property ownership. 1.4. Legal status of the object of valuation Cadarstal particulars province: Pomerania cadastral unit- Gda ńsk precinct- 300S sheet 1 plot no. -147/1 area - 19123 m 2 cropland RIVb 0.8873 ha, RV 0.5200 ha, ŁIV 0.2600 ha, PSIII 0.1750 ha, W 0.0700 ha Real Estate Register [KW]- 82692 province: Pomerania cadastral unit- Gda ńsk precinct- 300S ul. Orfeusza 16/11, 80 - 299 Gda ńsk phone: 7628133, 0601 681268 4 sheet 1 plot no. - 148/3 area - 28373 m 2 cropland RIVb 1.5734 ha, RV 0.7168 ha, ŁIII 0.3747 ha, W 0.1724 ha KW - 15267 province: Pomerania cadastral unit- Gda ńsk precinct - 300S sheet 1 plot no.- 149/2 area - 35040 m 2 cropland RIVb 2.9339 ha, ŁIV 0.3901 ha, W 0.1800 ha KW - 86637 In section I of Real Estate Register [KW] the plot no. 147/1 R is specified as cropland, area 1.9123 ha. The owner of the real estate is Municipal Commune of Gda ńsk, section III and IV of the Register are free from entries. In section I of KW 15267, among others, the plot no. 148/3 is entered R-cropland, area 2.8373 ha. The owner of the real estate is Municipal Commune of Gda ńsk, section III and IV of the Register are free from entries. In section I of KW 86637, among others, the plot no. 149/2 is entered R-cropland, area 3.5040 ha. The owner of the real estate is Municipal Commune of Gda ńsk, section III and IV of the Register are free from entries. 1.5. Aim of valuation The aim of this valuation is determination of market value of the real estate for the purpose of making contribution in kind to the company. 1.5.1. Formal issues against regulations in force The Act of 21 August 1997 on real estate management (Consolidated text, Journal of Laws of 2010 no. 102, item 651, as amended), This Act specified the principles for real estate valuation. The Provisions of this Act are applied to all sorts of real estates, regardless of type, location and designation, and also regardless of the ownership and aim of valuation, excluding the determination of real estate value for the purpose of realization of the Act on integration and replacement of land. The Act defines the notion of market value of the real estate and lists the methods of real estate value determination, constituting the approaches of the valuation. Real estate valuation is carried out by the property assessor, who is defined as ul. Orfeusza 16/11, 80 - 299 Gda ńsk phone: 7628133, 0601 681268 5 a natural person with professional license in the scope of property valuation, granted in the mode provided in the aforementioned Act. Resolution of the Council of Ministers of 21 September 2004 concerning real estate valuation and preparation of valuation survey (Journal of Laws of 2004, no. 207, item 2109, as amended). This Resolution determines the types of approaches, methods and techniques of valuation as well as manners of property value determination using particular approaches, methods and techniques of valuation. The Resolution includes manners of real estate valuation for various aims and purposes, depending on ownership and the designation of a given real estate. Chapter 4 of this Resolution includes the regulations concerning the management, form and contents of the valuation survey. Professional Standards Property assessor is obliged to perform duties in accordance with the principles stemming from professional rights and standards, with due diligence proper for the character of activities and principles of professional ethics, observing the rule of impartiality in the valuation of the real estate (art. 175 point 1). Professional standards are determined by professional associations of property assessors in agreement with the proper minister for civil engineering, spatial and housing planning. The notice on the settlement of professional standards is included in the Law Gazette of the minister proper for civil engineering, spatial and housing planning (art. 175, point 6). 1.5.1. Formal issues against regulations in force As a result of this valuation, the market value or replacement value is determined. Market value is determined for real estates which are or may be the subject of turnover (contrary to the replacement value, which is determined for real estates that due to their present use or designation cannot be subject to market turnover). The binding definition of the market value of the real estate is included in art. 151 section 1 of the Act of 21 August 1997 on real estate management. 1.6. Documents and information used in the course of valuation Documents and information provided by the Ordering Party: - order for valuation survey; Sources of information: - Notarial deeds concerning the sale of comparative real estates –data from Geodetic Department in the Municipality of Gda ńsk, ul. Orfeusza 16/11, 80 - 299 Gda ńsk phone: 7628133, 0601 681268 6 - real estate site inspection; - analyses and own sources of information. 1.7. Date of valuation Value of the subject of survey was determined as of 27.11.2013, prices as of 28.11.2013. Date of preparing