THE DEFINITIVE GUIDELINE FOR MEASURING FLOOR SPACE AREA
REALSERVE USES THE PROPERTY COUNCIL OF AUSTRALIA METHOD OF MEASUREMENT
The Property Council of Australia Method of Measurement for Lettable Areas is an indispensable tool for accurately calculating lettable areas in commercial, industrial and retail premises for property owners. Formerly known as the BOMA Method of Measurement this is now the definitive guideline for measuring floor space area in leased premises and ensures a consistent approach is taken to calculating lettable areas across a range of building or industrial property types for property owners.
The guidelines define three types of area calculation used in commercial leases;
- Gross Lettable Area – GLA – for industrial buildings, showrooms and freestanding supermarkets.
- Net Lettable Area – NLA – which is used for office buildings and tenancies.
- Gross Lettable Area Retail – GLA-R for retail tenancies in shopping centres, commercial buildings and strip shops.
Calculating the lettable area of a tenancy can be difficult as all buildings are unique and each has its own unique set of conditions. While the Property Council Guidelines provide an excellent job of defining the criteria for calculating areas it is impossible to cover every single eventuality in built environments. This is where extensive experience and knowledge from a qualified surveyor comes into play to deliver accurate lettable area measurements.
The Property Council of Australia champions the interests of more than 2000 member companies that represent the full spectrum of the industry, including those who invest, own, manage and develop in all sectors of property, creating landmark projects and environments where people live, work, shop and play.
EXPERTS IN LETTABLE AREA DETERMINATION
The Realserve team has been at the forefront of producing Lettable Area Surveys for nearly 20 years and are renowned in the property industry as the foremost experts in Gross Lettable Area (or Nett) determinations.
With many thousands of lettable area surveys completed in the property industry we have an extensive knowledge base to draw upon to ensure the lettable area derived for a property is fair and just to all parties concerned. With offices located around the country we can also cater to any state or regional specific requirements that may be unique to that area.
Realserve is committed to fostering education and precision across the industry and have proudly supported the Property Council of Australia reprinting of the guidelines.
The Realserve team provides a range of leasing survey services to cater to all types of commercial, retail or industrial properties. We have teams located in each State who have specialist local knowledge, a strict QA process and nearly 20 years of experience you can leverage.
BUY A COPY OF THE METHOD OF MEASUREMENT GUIDELINE
Purchase your copy of the Method of Measurement for Lettable Areas, from the reprint of the 1997 Method of Measurement, the 2008 version provides guidelines for measuring floor space in leased premises. The guidelines, covering office, industrial and retail premises, aim to provide consistency by documenting a defined approach to floor space measurement that is both practical and cost effective.