The difficulty in comparing office space across geographic boundaries is that different elements can be included in space calculations depending on where you are. Â 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. Â 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. Â For further information go to http://ipmsc.org/.
