The property Council of Australia’s, “Method of Measurement for Lettable Areas” is an indispensable tool for calculating lettable areas in commercial, industrial and retail premises. Being the definitive guidelines for measuring floor space area in leased premises the “Method of Measurement for Lettable Areas” (formerly the BOMA Method of Measurement) ensures a consistent approach in taken to calculating lettable areas across a range of building types.
The guidelines define three types of area calculation used in commercial leases; these being Gross Lettable Area (GLA) for industrial buildings, showrooms and freestanding supermarkets, Net Lettable Area (NLA) which is used for office buildings and tenancies, and finally Gross Lettable Area Retail (GLAR) for retail tenancies in shopping centres, commercial buildings and strip shops.
Because all buildings are different and each has its own unique set of conditions, calculating the lettable area of tenancy can be difficult, and while the Property Council’s guidelines do an excellent job of defining the criteria for calculating areas, it would be impossible to cover all eventualities that can arise in the built world. This is where the experience and knowledge base of a good surveyor comes into play. Realserve have been at the forefront of producing Lettable Area Surveys in Australia for the 16 years and are now renowned in the industry as the foremost experts in lettable area determinations. With many thousands of lettable area surveys behind us we have an extensive knowledge base of experience to draw upon to ensure the lettable area derived for a property is fair and just too all parties concerned. And, with offices around the country, we understand the local state based and legislative requirements of registering a lease in any part of the country.
Realserve have proudly supported the Property Council of Australia in sponsoring the reprinting of the guidelines on the last three reprints. Purchase your copy of the Method of Measurement for Lettable Areas, from the Property Council of Australia Bookshop.
Alternatively, give us a call and we would be happy to discuss the correct method of measurement required for your space survey. Or if you have questions relating to the interpretations of the different method of measurements, i.e between Gross and Net your local Realserve representative would be in a position to discuss at a time convenient to you.