Measurement Flashcards
What is the margin for error in property measurement?
It depends on the scenario but in offices it is 1%
When might you use IPMS in measurement?
IPMS 3 - Office & Residential but this will be superseded by IPMS all buildings when it is incorporated.
What is the difference between RICS Property measurement 2018 and The Code of Measuring Practice 2015?
The Code of measuring practice applies to all asset classes except offices
What is the difference between IPMS 3 measurements and RICS property measurement NIA when measuring offices?
IPMS measures up to the internal dominant face, includes pillars and includes areas of less than 1.5 metres height.
On floors with multiple occupiers, the area is taken to the midpoint of the partition wall between tenancies.
Bases of measurement under the Code of Measuring practice 2015
GEA - used for town planning and building cost estimates
GIA - Used in valuation of warehouses, industrial and retail warehouses
NIA - Used for shops
GIA
Includes columns, lift wells, mezzanines and loading bays
Excludes canopies and fire escapes.
You measure ancillary office space within warehouses to GIA.
How many feet are there in a metre?
How do you calculate the square footage from square metreage?
there are 3.28 feet in one metre
You multiply by 10.764
What is a letter of reliance?
A letter provided by a consultant to a third party so that their report can be relied upon.
