old format report valuation

Format report valuation for store building

The property under valuation is a store building, one-storey steel framed building and other land improvements, erected on a land plot of 0000 m² as stated in the 3 pieces of land certificate.
This property is located at … approximately 2,5 km east Simpang Lima.
The surrounding developments within approximately 5-km radius from the site are shown in the following table:Road Condition
The fronting road of this property is a 16-metre-wide while Jl. Gajah at the east side  at 8 -meter-wide. All are asphalted, two-way and completed with open drainage system. These roads are in good condition.Neighborhood
The property is located in a commercial area. Prominent buildings / development which are in proximity of the property are as follows:
SDN Padear Lamper
Asrama Polisi Kabluk
Rumah Sakit Bhayangkara
Location Map
Location Map attached in Appendix.
Shape and Land Area
The subject site is regular in shape with a total land area of  000 meters as stated in 3  pieces of land certificate.
The terrain of the land plot is generally flat and at the same level to the fronting road.
Lot Plan
Lot Plan attached in Appendix.
Site Plan
Site Plan attached in Appendix.
Electricity supplied by PLN (state owned company) and generating set.
Telephone line
Telephone line is supplied by Telkom (state owned company).
Water Supply  
Water is supplied by deep well.
The public transportation is available along …. Located in front of the property.


Store Building

Total of Floor :    1 (one) storey
Structure         :    Steel frame
Roof              :    Corrugated aluminum sheet on steel frame covered with aluminum foil
Ceiling          :    Gypsum board (office) and aluminum sheet (fresh fish & vegetable area and frozen food area)
Wall             :    Plastered brick wall and painted
Partition         :    Gypsum board and plastered brick wall and painted
Door            :    Steel door with steel frame and plywood with timber frame
Floor  :         Concrete flooring to consumer area covered with hardener, ceramic tile to the office
Accommodation   :    Consumer area, store area, loading dock area and office 
Facilities       :         Fire hydrant & smoke detector system, multi split air conditioning system, lightning protection and central sound system
Condition        :            Good
Floor Area      :        sqm

Other Land Improvements

Consisting of :

- Concrete Construction Buildings  :    Generator house, guard house and rest room
- Perimeter Fencing   :    Plastered hollow block wall and steel, height of about 2.5 metres with steel entrance
Internal Roads / Parking Area    :    Asphalted
Drainage System     :    Reinforced concrete construction

Use of the property     :     Currently the property is used as Makro Cash & Carry store.
We have not carried out a detailed structural survey of the buildings. However at the time of our inspection the buildings were in good condition and well maintained.
The subject site is held under 2 (two) pieces of land certificate as follows :
We received only copy of list the above land certificates. We do not verify the validity of the land certificate nor its changes if any.
Town Planning
According to our investigation to the local area, the subject site is located within an area zoned for commercial use.
Building Permit
We have not received the building permit. We have assumed that the building permit is available and has covered all improvements built on the land.
On the assumption that there are no outstanding payments, onerous restrictions, covenants or unusual outgoings of which we have no knowledge and subject to the basis of valuation specified above, we are of the opinion that the current market value of the property is: (Rupiahs …Only)
Based on our observation, certain parts of the building ie. Wall, roof, and floor need to be repaired. The air conditioning is not working.
Partial conversion to new layout or total conversion (breaking down and rebuilding) is both possible. In our opinion the estimated cost and time frame required for repair, partial conversion, and total rebuilding  are as follows :Repair for Existing Use not required , Partially Conversion, Estimated cost  is approximately Rp ….., Time frame required 12 months.Total Conversion (rebuilding into a new hypermarket). Estimated cost  is approximately Rp …..-.Time frame required 12 - 16 months. The time frames exclude design period which could take 2 to 6 months.

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