Property of patrimony. Zafra. Badajoz

REPORT OF APPRAISAL.-

BUILDING: SINGULAR BUILDING OF HOUSING, LOCAL

AND OFFICES

LOCATION: PLAZA OF SPAIN, Nº24, 06300. ZAFRA.

PROVINCE: BADAJOZ

PURPOSE: ADVICE OF MARKET VALUE

DATE OF VISIT: 18/11/2015

VALUE DATE: 02/ 2016

1.- IDENTIFICATION OF THE PROPERTY.-

1.1.- Physical identification.-

The property this is a unique building, which is composed by the following elements:

-Local commercial 1: Is located on the ground floor with access from the Plaza of Spain. It is currently free of tenants or occupants.

-Local commercial 2: Is located on the ground floor with access from the Plaza of Spain. Its back to the street Álvarez Chamorro. It is currently occupied by the Bank Caja Rural de Extremadura.

-Housing: Occupies part of the ground floor and the first floor. Its main access is from the Plaza of Spain. Has a second access from the street Álvarez Chamorro. It is currently occupied by the property.

-Offices: Occupy the second floor. Its access is from the street Álvarez Chamorro. It is currently free of tenants or occupants.

Address: Plaza de España nº 24

City: Zafra

Province: Badajoz

Postal Code: 06300

On the date of 18/11/2015 has made the visit, with the Building completed and conditioned for use.

1.2.- Registry identification.-

The property appraised has the following location: Plaza of Spain, nº24, 06300, in the municipality of Zafra, in the province of Badajoz, and whose registered details are:

-Registration of ownership of Zafra:

- Reference to land register:

-5561303QC2556S0001RP

-5561303QC2556S0005IF

-551303QC2556S0003YS

-551303QC2556S0004UD

2.- PURPOSE AND SCOPE OF THE RATING SCHEDULE.-

The present evaluation has been commissioned by Artsvalua sl and for the purpose of the calculation of the Market Value.

The assessment criterion used is the Market Value, with the methods that are detailed in the report.

The present assessment does not meet the requirements for the ECO-805-2003, on valuation standards for real estate for certain financial institutions.

To perform the present report has used the following documentation:

Records If (inheritance)

Documentation and cadastral survey If

Similarly, we have made the following checks:

Ocular inspection-internal

Built surface If (*)

Easements visible If

State of conservation or construction If

Actual correspondence on the registry If

State of occupation If

Current use intended If

Adaptation to the urban planning If you (*)

(*) We have used the plans provided to extract the frames of surfaces.

(*) Through computer means

As a result of the documentation used and the checks made that point, we have obtained the data and information that are presented in the following sections of this report.

3.- LOCALITY AND ENVIRONMENT.-

3.1.- Locality.-

The property to be valued is situated in Plaza España, nº24, 06300, in the municipality of Zafra, in the province of Badajoz. This municipality has the following basic features.

3.2.- Environment.-

Basic features:

Infrastructure and degree of conservation:

Communications, transport and parking:

4.- THE FIELD.-

4.1.- Surface.-

4.2 Infrastructure.-

At the time of the visit, the land on which is located the property to be valued has the following infrastructure:

5.- THE BUILDING.-

5.1.- Description.-

The real estate valued in this report constitute a complete building, and are composed by the elements whose type and relative location are reflected in section one. The building consists of three floors above ground with respect to the plaza of Spain, being its uses-residential, commercial, and offices.

His equipment consisted of:

The elements that are valued, have the following characteristics:

Functional program Local 1: (dimension of the plaza Spain)

Conditions of habitability:

Functional program Local 2: (level of the plaza Spain)

Conditions of habitability:

Functional program Housing

Conditions of habitability:

Program functional second floor Offices

The physical reality of the current corresponds with 3 offices spread all of them in several departments and with all toilets. The current distribution wasted many common areas, making the useful area of the offices is much lower to the that could be exploited with a slight variation of distribution.

Conditions of habitability:

5.2.- Constructive characteristics.-

Key elements of the building:

 Finishes the majority of property:

 Sanitary equipment: average quality

Facilities of the property:

5.2.- Surfaces.-

The surface of the building, in m² is the following:

5.4.- Current situation: Antiquity and state of preservation.-

Have a age of 56 years approximately and its state of conservation is higher than it ought to be for your age.

It has been estimated that the remaining useful life superior to that which it ought to be for your age and equal to 65 years.

6.- SITUACION URBANISTICA.-

In accordance with the urban planning in force that is applicable to the property this is located within urban land consolidated with an index of protection that does not allow substitution, and limits the possible works of reform and rehabilitation.

7.- REGIME OF PROTECTION, TENURE AND OCCUPATION.-

Regime of protection.-

In accordance with the documentation provided and with the information obtained during the visit, the building is not host to any regime of public protection currently.

Tenure and occupation.-

On the basis of the visit and the information received, on the date of the visit the building was partially occupied, the appraisal value has been calculated under the assumption that the property is found free of tenants and occupants. The local 2 is rented with rental contract expired, according to documentation provided with the estimated value under the hypothesis that it is free of tenants or occupants.

Easements.-

There have been easements visible affect to the property.

8.- INFORMATION ON THE MARKET.-

We have done a research of the market segment relating to the real estate are comparable with the values, with the following result:

Offer: The level of supply of real estate comparable is medium-high. The features of the property valued are similar to the average of the competitive market.

Demand: The sale of properties similar in the area is average. The income level of the buyer means.

Currently the demand for real estate comparable is inferior to the existing supply.

Prices: The market study comparable analyzed are extracted from the following samples of dwellings:

 Prices: The market study comparable analyzed are extracted from the following samples of local:

  Prices: The market study comparable analyzed are extracted from the following samples of offices:

The homogenization of the characteristics of the market data obtained using the of the real estate that is priced has been made the basis of the differences observed between them and in particular, its date, location, surface, quality constructive and seniority.

After such homogenization, and subsequent weighting are obtained the following values for the average unit for use:

Expectations: it Is expected that the short-to medium-term demand and supply are kept constant.

The foreseeable evolution of the prices in the short-medium term is that it will remain stable.

9.- CALCULATION OF VALUES.-

9.1 Calculation of the cost of replacement/replenishment.-

By applying the cost method, we obtain the following results:

Note: The cost of construction has been determined on the basis of the ratios of means existing in the environment.

9.2.- Method of comparison

The market data have been homogenized and weighted, obtaining as a result the Market Value for the comparison indicated in section 8.

Market value adopted by 02/2016 (Euros/m² built)

The present assessment does not meet the requirements for the ECO-805-2003, which regulates the appraisals for certain financial institutions.

9.3 Value Legal Maximum.-

Not calculated, since from the documentation we have been provided and the visual inspection, it does not follow that the property is subject to a regime of public protection.

10.- VALUE OF APPRAISAL.-

In accordance with the purpose referred to above, for which we have requested the assessment, with the criteria and methods of assessment used, with the analysis of the documentation that we had brought, and with the checks that we have performed, it is our opinion that on the date of visit the property, the appraised Value of the same is:

The SALE VALUE OF the BUILDING at 02/ 2016 is:

Negotiable with the manager, depending on the total interest or part of the property to be reason for the exposed.

And to take the appropriate purposes is issued in February of 2.016.

Fdo.: Carlos Hellin Armengol

Architect

PLANE OF SITUATION.-

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