Measurement Flashcards
What does the RICS Code of Measuring 2015 outline?
The code provides precise definition to ensure a consistent approach to measurement (excluding offices and residential)
What does the RICS Property Measurement (2nd edition) 2018 outline?
Updates the code of measuring to incorporate International Property Measurement Standards. Mandatory for offices and residential 1st May 2018.
What are the benefits of IPMS?
- Provides consistency in global property market / greater transparency
- Works alongside IFRS and IVS
Different types of IPMS measurements?
- IPMS 1 – GEA – for planning and building cost purposes
- IPMS 2 – GIA – for agency and valuation purposes
- IPMS 3 – NIA – for agency and valuation purposes
What are the different types of measurements used for? (GEA, GIA & NIA)
GEA – Town Planning, council tax, building estimates (resi)
GIA – Estate agency, rating, building cost estimation (commercial), val – industrial, retail warehouses (2-3% discount from GEA)
NIA – as above but for shops and offices (15% discount from GIA)
What does the IPMS All Buildings 2023 outline?
- This document supersedes all standards previously published standards by the IPMS Coalition.
- Aims to provide a methodology which can be used for all building types in the world (promoting international collaboration).
- The RICS is yet to adopt this form of measurement. If they do, they believe it will replace RICS Property Measurement 2018.
What does GIA (RWH / Industrial) include and exclude?
- Includes – columns, lift wells, mezz with permanent access, loading bays
- Excludes – canopies, fire escapes
- Measuring mezzanines – permanent access available then you measure this
What does NIA (Shops / Offices) include and exclude?
Includes -
Lift lobbies
Kitchens - cupboards (if built in).
Excludes -
WC’s
Plant/lift rooms
Stairwells
Permanent circulation areas
Areas less than 1.5m and permanent circulation areas
What is internal eaves height?
Clear height between the floor and the lowest point on underside of roof
Difference between gross and net frontage?
- Gross frontage – overall external measurement in a straight line across the front of the building
- Net frontage – overall frontage of the shop line measured between internal face of external walls
What are the different scales?
1:50 Room Plan
1:100 Building Plan
1:1,250 Street / Location Plan
1:2,500 Location Plan
1:50,000 Road Map
What is the acceptable variance in measurements?
Acceptable variance depends on property to property. Typically you would have an acceptable variance of 1-5%.
But you have to keep in mind that missing square footage on for example a unit on Bond Street will have a far more materialistic impact on value than missing a square footage on a 100,000 sq ft industrial unit.
Either way if there is a variance that is significant enough, I would undertake a second measurement or have someone else do it
How would you measure the site area in person?
Use a trundle wheel
What is the difference between IPMS 3 and NIA?
Additional areas included in IPMS 3 – Office compared to
NIA under the Code of measuring practice are:
- Measured to the internal dominant face
- Columns and any associated ‘unusable space is included
Under RICS Professional Statement - Property Measurement 2018. What is required when providing measurement?
1 - Date of measurement
2 - Measuring methodology
3 - Scale plans if used
4 - Advise on the benefit of IPMS