What guidance is there when carrying out measurement?
RICS Practice Statement – Property Measurement 2nd Edition 2018
IPMS 2023
RICS Code Measuring Practice 6th Edition 2015
What would you take with you when measuring?
Tape, rod, laser device which have been collaborated
How do you measure an industrial unit with a mezzanine floor and a canopy?
GIA
INCLUDING Mez floor with permeant access
EXCLUDING - Canopies
Ancillary offices also done on GIA
Tell me about an office building which you have measured and the approach taken.
Measured Victoria Street - Office Space
IPMS 3 - I included the kitchen but excluded the toilets. I also included the area of skirting and perimeter trunking and areas occupied by non-structural walls subdividing accommodation in sole occupancy.
How would you measure a shop trading on basement, ground and first floor with a large central staircase and a return frontage?
NET INTERNAL AREA
What is zoning?
Zoning is a technique used to assess the rental value of a retail unit and not a basis of measurement.
Explain zoning process?
The front of the shop is worth more than the back. Close to footfall etc.
Based on the halving back principal. The ITZA rent is x
then x/2,
x/4, x/8 etc.
first floor and storage / basement is usually x/10.
Zones are typically 20 ft zones / 6.1m. in some areas (Bond Street, Oxford Street and Edinburgh) there are 30ft zones. (9.1M)
Natural zones are changes in the layout of the shop, i.e. steps.
Mirrored zones are when a shop has 2 frontages.
Return frontages you may add 10% on to the zone A rent for the Zone A section, however you would always assess comparable evidence to establish this.
How would you measure a plot of land for valuation purposes?
Is this Code mandatory for RICS members?
Is a guidance note NOT a practice statement. It provides precise definitions to ensure a common & consistent approach to measurement.
How would you measure an industrial building for rating purposes?
GIA
Include, columns, lift wells, mezzanines, loading bays, areas of less than 1.5m height and plant rooms
Exclude, Canopies, fuel stores, open sided balconies and external fire escapes.
How would you measure a food store / supermarket or out of town retail warehouse?
On a GIA basis. Consult the Code.
What do you exclude from the measurement of an industrial unit?
On a GIA basis,
Exclude, Canopies, fuel stores, open sided balconies and external fire escapes.
What scale of plan do you usually work to, in your area of work?
1:50 and 1:100 usually.
What is the difference between a Goad plan and an OS plan?
The goad plan states names of units, is not to scale and shows multiple levels.
Goad plan is used to show retail properties.
What is a scale?
A scale refers to the relationship of a feature’s length on a map to its actual distance on Earth
What information must be included on all plans?
Scale and North point and crown copyright
How would you measure an atrium in an office building occupied by a single tenant?
Include it!!
measured at base level only if nothing above.
How do you deal with tenants’ improvements when measuring for valuation purposes?
Find out what is and what isn’t. Typically exclude tenants improvements if they are going to be reinstates – always ask the client what they want.
How do you treat a notional lift lobby and notional fire corridor during an inspection of an office?
You would exclude lift lobbies. If the lift is going directly into your floor plate then you would include the area, however would probably be a discussion if it was to be rentalised when letting.
Do you exclude canopies on a Gross External Area measurement?
YES
How do you deal with tenants’ improvements when measuring for valuation purposes?
Take instructions from your client and check what is and what isn’t tenant’s improvements.
Also check the reinstatement clause.
What is ITZA? When/why would you use it? How do you zone?
Zoning is a valuation technique, not a basis of measurement.
ITZA = In Terms of Zone A.
Space near street is more valuable - ability to attract passing footfall into the shop.
Halving back principle using 20ft (6.1m) as standard.
Half the value of each area until getting to C/D, then remainder
30ft zones on Oxford Street, Bond Street and Scotland
Common allowances/discount - quantum discounts, shape, e.g. excessive frontage to depth, unusual shape, masked areas, split levels
Would you always zone a retail unit?
In general the market does zone, so often best to in order to compare your property to your evidence.
However, you do not have to and for department stores and very large units you may wish to value on an overall basis – once ground floor exceeds 10,000 sqft
What would you include for NIA?
NIA is usable area within a building measured to the internal face of the perimeter walls at each floor level.
It includes atria with clear height above entrance halls, notional lift lobbies, kitchens, areas occupied by ventilation/heating, areas occupied by skirting/perimeter trunking.