Blog
Unlocking the Importance of Accurate Measurement in Commercial Properties
Friday 17th November 2023
Carl O'Boyle BSc MRICS FCIOB MFPWS
Accurate measurement of the internal areas of your commercial property is crucial for several reasons. Let's take a closer look at why it is important:
1. Space Utilisation and Planning
Understanding the gross internal floor area allows architects and designers to effectively plan and allocate space for different functions within a building. This ensures that the layout meets the intended purpose and complies with building codes and regulations.
2. Cost Estimation
Construction costs are often based on the amount of space being built. By accurately measuring the gross internal floor area, builders and developers can estimate construction costs more precisely. This helps them plan budgets and secure financing.
3. Real Estate Transactions
The gross internal floor area plays a critical role in property valuation. Real estate professionals use this measurement as a basis for comparing different properties and determining fair market prices. It directly influences the property's market value.
4. Building Regulations and Codes
Many building codes and regulations specify minimum and maximum allowable floor areas for different types of buildings. Measuring the gross internal floor area is essential for ensuring compliance with these regulations and obtaining the necessary permits for construction.
5. Energy Efficiency
The gross internal floor area is often used to assess and calculate energy efficiency in buildings. It helps determine the heating, cooling, and lighting requirements for the space. This contributes to the design of environmentally sustainable and energy-efficient buildings.
6. Property Management
For property managers, knowing the gross internal floor area is crucial for efficient management and maintenance of a building. It aids in determining cleaning and maintenance schedules, security needs, and overall operational efficiency.
7. Leasing and Rental Agreements
In leasing and renting commercial and residential spaces, the gross internal floor area is a key factor. Landlords and tenants use this measurement to negotiate lease terms, rental rates, and understand the spatial characteristics of the property.
8. Insurance Purposes
Insurance companies may use the gross internal floor area to assess the insurance coverage needed for a property. Larger properties typically require higher coverage due to increased potential risks and replacement costs.
Contact
Here at Tayross Associates, Carl and Mike are both Chartered Surveyors with experience in Dilapidations, Planning Matters, Building Surveying, Building Consultancy, Contract Administration, Project Management, Boundary Disputes, Measuring and Party Wall related matters. They are happy to help with any questions you may have regarding the above.
Please visit our 'contact us' page here for contact details - www.tayross.com/contact
Please visit our website here for more information - www.tayross.com
