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The International Property Measurement Standards (IPMS): How are they measuring up?
The International Property Measurement Standards (IPMS) were introduced as a way of standardising measurements, providing muchneeded transparency, consistency and comparability across the global property markets. IPMS Offices is already included in the mandatory RICS Professional Standard Property Measurement and will be rolled out across other sectors over time. This paper explores the broader issues and changes that IPMS brings — both in this initial transitionary period between the old and new methods and beyond. How IPMS specifically affects a number of areas in which building surveyors commonly work is also examined, including leases, reinstatement cost assessments (RCAs), non-domestic rates, facilities management, energy performance certificates (EPCs) and service charges.
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Tom Pugh is a senior associate and chartered land surveyor at Malcolm Hollis based in the London City office. He works in the Measured Survey team where he oversees all area referencing work across the business. He has over 10 years’ experience working across all types of surveys including topographical surveys, measured building surveys, laser scanning and area referencing surveys. He has worked across a broad range of properties, both commercial and residential, ranging in size and scope from small high street retail units to large multi-site industrial portfolios. He has been involved in numerous prestigious projects, including advising clients such as Land Securities and Canary Wharf Group on 20 Fenchurch Street and Nova Victoria, among others. He has also been part of survey teams carrying out survey works for the Royal Household and the Parliamentary Estate. He is a key member of the RICS working group drafting the Professional Statement in relation to property measurement and has advised the Standard Setting Committee of the International Property Measurement Standard Coalition, in particular creating the diagrams that appear in both the International Standard and the RICS Professional Statement.