9 Jun 2016
Size Matters – How Does Your Office Measure Up?
It is now mandatory for RICS accredited firms, like Aston Rose, to adopt International Property Measurement Standards (IPMS) when measuring office premises. What exactly does this mean? Well, for the first time, property will be measured in a consistent way around the world – providing much needed regularity when research has shown the difference in measurement of floor space between one country and another can be as much as 24%! As a firm of chartered surveyors we have a strong sense of duty to our clients and, in the fiercely competitive office market we currently find ourselves operating in, it is essential we record accurate floor areas of office space to ensure the rents paid are based on the correct area. Through a single and consistent approach to established measurement principles IPMS means our clients can have even more confidence in our professional abilities as general practice surveyors and our reputation for delivering the best results. What’s new? The term ‘net internal area’ (NIA) is now obsolete and replaced with IPMS 3 – Office. IPMS 3 – Office is for measuring the occupation of floor areas in exclusive use. IPMS 3 – Office is defined as the floor area available on an exclusive basis to an occupier and excludes standard facilities and shared circulation areas. It is calculated on an occupier-by-occupier or floor-by-floor basis. All internal walls and columns are now included in IPMS 3 – Office and the floor area is taken to what is considered to be the internal dominant face – this is the inside finished surface comprising 50% or more of the surface area of each vertical section (wall) forming an internal perimeter of the unit. This can include inside a window recess (to include inside glazing), as long as the glazing is 50% or more of the floor to ceiling height. In a multi-let building where there is more than one occupier on a single floor, the floor area is taken to the centre line of the common wall. Confused? Don’t be. For a chat about IPMS or help with any commercial property matter , please contact: Phil Richards MRICS on 020 7629 1533 or email firstname.lastname@example.orgBack