Measurement Flashcards
(2 cards)
1
Q
How would you measure a retail unit for valuation or letting purposes?
A
I would use Net Internal Area (NIA), measuring to the internal face of external walls. This includes usable trading and storage space but excludes common parts, structural walls, and areas under 1.5m height.
2
Q
What is the definition of Net Internal Area, and why is it used for retail units?
A
NIA is the usable area within the premises. It is used for retail as it reflects lettable space and aligns with lease agreements and rent comparables.
