Arbitrage Real Estate was instructed to assess the market asset and rental value of a 1,200m² portfolio comprised of 4 retail stores, an office unit and a warehouse, located in the areas of Monastiraki, Exarcheia, Neapoli and Piraeus, respectively. The scope of the instruction was for the renegotiation of existing leases. The property portfolio is owned by the Greek State and leased to various tenants.
Arbitrage's valuation team carried out the onsite inspections, assessed compliance levels with the relevant planning regulation and the quality level of the facilities maintenance. In addition, our team conducted a thorough market research based on a qualitative and quantitative analysis of trustworthy comparable evidence. Main challenge of the valuation process was the solid illustration of the Market Rent given a rather illiquid real estate market with poor office and retail lease transaction levels during the last 12 months. The valuations were performed with the use of the Comparative Method, according to RICS Professional Valuation Standards, as complied with the International Valuation Standards.
