The difficulty in comparing office space across geographic boundaries is that different elements can be included in space calculations depending on where you are. Some countries include only the usable floor space, others include common areas such as lifts, stairwells and car parking space culminating in a considerable headache for FMs, Surveyors and others. Until now . . .
In November 2014 the International Property Measurement Standards were published, providing universal guidelines for the measurement of office buildings.
In its simplest form the standardisation of property measurement will offer a method of comparing different space measurements through one common language of standardised measurement. The broad benefits include:
• A mechanism for benchmarking property measurement information across international markets.
• A common and transportable method for property practitioners to use.
• Enabling international occupiers, investors and owners to benchmark their property assets without needing to spend significant sums of money and resource calibrating space measurements.
• Providing greater transparency and consistency to all property users, wherever they are located.
• Providing consistency in data for valuations and financial reporting and supporting property and facilities managers to better compare and utilise space.
IPMS for Office Space is the first in a series of Property Measurement Standards to include Industrial, Retail and Mixed-Use space. For further information go to http://ipmsc.org/.
