Pioneering draft guidance for the measurement of land is under consultation until 17th September 2019, prior to formal adoption at the end of the year.
The document from the Royal Institution for Chartered Surveyors (RICS) provides clear definitions for those measurements which are widely used in the property and planning sectors.
There are five core definitions proposed to assist with the global measurement of land:
- Land Area should be used to refer to the legal title area of land, and is of particular relevance to agents and lawyers as it is the legally demised area of land.
- Site Area should be used to refer to the area of land used for planning application purposes and is of importance to those involved in the development process as it is the area to which any permission for development relates.
- Net Development Area should be used to refer to the area from which financial value is directly derived, by virtue of either being income producing or for sale, and is of relevance to development surveyors and valuers.
- Plot Ratio is the ratio of Gross External Area (GEA) of a building or buildings at each floor area, under the International Property Measurement Standards, to the site area.
- Site Coverage is defined as the ratio of the building footprint’s GEA to the site area at ground-floor level.
Tony Mulhall, associate director of the Land Professional Group (RICS) said:
“RICS is committed to regulating the property industry in the public interest, with the accurate and consistent measurement of land and property being absolutely fundamental to this. This Guidance is an important step forward which will harmonise practice in the built environment profession for the better around the world.”