Challenging the cadastral value of a large business centre

Lawyers from Pepeliaev Group’s St Petersburg Office successfully completed a project that included challenging in the first instance and appeal courts the cadastral value of Petrovskiy Fort, one of the largest business centres in St Petersburg. This case is significant because, during the dispute, our lawyers had to engage independent expert organisations on numerous occasions to establish the market value of the real estate facility. There were three independent valuations altogether. One was held at the pre-trial stage and two within the framework of court expert reviews. Also, our firm’s lawyers provided the court with other evidence of the true market value of the business centre. The Appeal Court confirmed that the conclusions of the second court expert review were correct. This resulted in the cadastral value of the facility being reduced by nearly RUB 2 billion.