old format report valuation

Format report valuation for store building

GENERAL DESCRIPTION

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.

LOCATION

Situation

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.

SITE DETAILS

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.

Topography

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.

Facilities

Electricity

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.

Transportation

The public transportation is available along …. Located in front of the property.

BUILDINGS AND OTHER IMPROVEMENTS

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.

LAND TITLE

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

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.

VALUATION SUMMARY

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)

REPAIR AND CONVERSION ESTIMATES

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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