Misleading information such as incorrect floor sizing – either intentional or unintentional – is against industry standards and sabotages every transparency and honesty between an agent and a client.
For most businesses, workspace is one of the biggest investments they will make. Yet when it comes to property details, landlords/tenants often rely on outdated information given to them, particularly if they are not represented by a surveyor.
Checking the floor measurement for a building is vital for a number of reasons, such as calculating service charges for lease agreements or showcase a property for marketing purposes. Outdated measurement can have a significant impact on the accuracy of property value and be easily over or undervalued by hundreds or thousands of pounds.
At Omega RE we collate all existing property documentation and undertaking measured survey of all properties we are acquiring or disposing of. We don’t rely on architect plans or historic figures. As there is no guarantee that the property has been constructed to the exact scale as the plans. We measure in line with RICS property measurement guidelines. We only depart from standard measurements like International Property Measurement Standards to Net Internal Area, subject to client request.
We have experienced one measured survey whereby the actual building was 1,000 sq ft larger than the plans. The vendors agent had relied on architect plans and had never carried out a measured survey. On another occasion, we experience that the property had been measured on a Gross Internal Area basis, as oppose to a Net Internal Area basis for an office building, which again resulted to the occupier paying for a larger sq ft. Why pay for something that doesn’t exist?
It pays to get the right advice. Our team acts with integrity and transparency. We uphold the RICS values to high regards, as we want to demonstrate to our clients these same values.