Measurement L2 and L3

Question 1

What can you tell me about the East Lancashire industrial property you measured?

Answer 1

• Owner-occupied weaving mill property
• Circa 40,000 sq ft GIA (5% offices)
• Site 2-acres 40% coverage
• 5m eaves
• Permanent mezzanine - valued
• Provided with fire plan

Question 2

• Why did you adopt a GIA valuation basis for the industrial property in East Lancashire?

Answer 2

GIA is the measurement basis for industrial properties specified by the Code of Measuring Practice.

IPMS not yet developed for industrial properties

Question 3

• What do you include in GIA areas?

Answer 3

Includes almost everything except void areas, balconies and canopies

Question 4

How did you report the measurement and values of the offices and mezzanine element at the East Lancashire industrial property?

Answer 4

• Included the mezzanine as it was a permanent structure
• Included the offices within the GIA measurement as only 5%
• Included both in same rate psf of £50
• Value £2M

Question 5

What can you tell me about the Leeds office property you measured?

Answer 5

• Victorian former school property
• Owner-occupied by one user
• 10,000 sq ft NIA (IPMS 3)
• Provided with fire plan

Question 6

• Why did you adopt a NIA and IPMS 3 basis?

Answer 6

NIA is measurement basis for office properties as per Code of Measuring Practice.

IPMS 3 for office properties, detailed within RICS Property Measurement professional statement.

Question 7

• What are the differences between NIA and IPMS 3 and how did you report them?

Answer 7

• NIA Deducts:
  o External Balconies
  o Rooftop Terraces
  o Internal Structural Walls and Columns
  o Measurement to middle of shared walls
  o Areas of Below 1.5m Headroom

Question 8

• How did you report the figures for the office property in Leeds?

Answer 8

Dual reported for NIA and IPMS

Difference of XXX!

Report on metric and cubic

Multiplier 10.7639 to square feet