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RICS Property Measurement: The new standard for office buildings
The measurement and reporting of office space within the UK changed on 1st January, 2016. The professional statement, published as RICS Property Measurement, details the new standards that reflect the internationally agreed criteria (IPMS Office Buildings) established in 2014 in the pursuit of greater consistency and transparency for commercial office property dealings around the globe. Previously, the use of existing national measurement standards from around the world lead to differences in reported area figures of office space by as much as 24 per cent. This article describes the differences of the new standard from the RICS Code of Measuring Practice, 6th edition, and the means of converting between the old and new standards. The RICS Code of Measuring Practice, 6th edition, now only applies for office space reporting under direct client instruction but still remains current for all other property types.
The full article is available to institutions that have subscribed to the journal