Lettable Area Surveys
What are lettable area surveys?
A lettable area survey, also known as a lease plan survey, is a measured survey of a given floor space for leasing purposes.
When a lettable area survey is required
Lettable area surveys are often used to assist with rental calculations, property valuations and lease documentations. These are most commonly used by tenants, property owners, property managers and letting agents.
What does a lettable area surveys include?
We provide plans showing areas and structures that will be used to calculate rental rates. Depending on the required lettable area survey, different areas are excluded from the calculation. Land Surveys experience team can guide you through your relevant requirements.
We can provide master plans for large shopping centres with updates as and when tenancy areas require redefinition. We can also provide discrete geographic information system (GIS) solutions to manage tenancies for large or complex situations.
The benefits of using lettable area surveys
By using lettable area surveys Land Surveys can confidently ensure that it mitigates tenancy area disputes, and that measurement guides for consistency are followed.
Lettable area surveys are used for calculating retail tenancy areas (or floor spaces) that are widely used for determining rental rates for the following premises:
- retail outlets;
- industrial facilities;
- mixed-use facilities;
- shopping centres;
- showrooms; and
- commercial buildings.
What challenges can Land Surveys solve with lettable area surveys?
Our surveys are performed by professional licensed and registered surveyors who deliver the highest levels of accuracy and expertise. They ensure that clients receive expert advice and support to assist with the technicalities of providing gross lettable area (GLA), GLA retail (GLAR) and net lettable area (NLA) surveys.
We complete the surveys in accordance with the Methods of Measurement for Lettable Areas guidelines set down by the Property Council of Australia for accurately calculating lettable areas in commercial, industrial, and retail premises for property owners. When negotiating floor space, Land Surveys ascertains with client’s which method is to be used and, importantly, the measurements attained through the surveys.