The International Property Measurement Standard (IPMS) is a standardised and globally applicable method for measuring property. It aims to address inconsistencies in the way properties of all types are measured from one market to the next by improving property market data and providing greater transparency.
The second edition of the RICS measurement incorporates the existing International Property Measurement Standards for office buildings and the latest standards for residential buildings. The updated statement has an effective date of May 1st 2018.
There are 3 IPMS Office Definitions:
IPMS 1 Definition: The sum of the area of each floor level of the building measured to the outer perimeter of external construction features and reported on a floor-by-floor basis. In many markets, but not universally, this is known as Gross External Area.
IPMS 2 Definition: The sum of the area of each floor level of an office building measured to the Internal Dominant Face and reported on a Component-by-Component basis for each floor of a building. In many markets, but not universally, this is known as Gross Internal Area.
IPMS 3 Definition: The Floor Area available on an exclusive basis to an occupier, but excluding Standard Facilities and shared circulation areas, and calculated on an occupier-by-occupier or floor-by-floor basis for each Building.
3 IPMS Residential Definitions in effect from May 1st:
IPMS 1 Residential Definition: The sum of the area of each floor level of a building measured to the outer perimeter of external construction features, which may be reported on a component basis for each floor of a building.
IPMS 2 Residential Definition: The sum of the area of each floor level of a residential building measured to the internal dominant face, which may be reported on a component basis for each floor of a building.
IPMS 3 Residential Definition: The floor area available on an exclusive basis to an occupier.
- IPMS 3A: an external measurement of the area in exclusive occupation – equates somewhat to GEA (gross external area)
- IPMS 3B: an internal measurement including internal walls, etc. – equates somewhat to GIA (gross internal area)
- IPMS 3C: an internal measurement excluding internal wall, etc - equates somewhat to EFA
What Apex Can Do For You
At APEX we have significant experience in surveying buildings of all shapes and sizes and have expert knowledge of all aspects of the IPMS measurement procedures. As chartered surveyors we ensure that all our surveys are carried out as per SCSI/ RICS guidelines and use advanced measurement technology to ensure quality and cost efficiency. Our measurements, area calculations and drawings can be delivered in IPMS format report or in any other alternative format required.
How We Can Help
The use of IPMS is assisting in providing comparable data which can aid in valuations, rent negations and property transactions and influencing how buildings are designed and refurbished. To read the latest RICS report in full click here.
For more information please call 01 – 6910 156 or email email@example.com and one of our experienced team members will provide a free consultation and/or a quotation to suit your needs.