Presentation on theme: "METHODS OF MEASUREMENTS AND REBUILDING COSTS ESTIMATES"— Presentation transcript:
1 METHODS OF MEASUREMENTS AND REBUILDING COSTS ESTIMATES KAMRA TAL-PERITIVALUATION STANDARDS 201229 MAY 2012PERIT NICHOLAS SAMUT-TAGLIAFERRO
2 CODE OF MEASURING PRACTICE – APPENDIX A. REBUILDING COST ASSESSMENT – APPENDIX C.
3 CODE OF MEASURING PRACTICE The aim is to provide guidelines with clear definitions which will permit accurate and consistent measurements of land and buildings for the purpose of valuations and building cost estimation.
4 LOCAL DEFINITIONS FOR MEASUREMENTS MEPA GROSS FLOOR AREA (Definitions) of a residential unit is the total area of the whole unit including all rooms and internal spaces; this includes wall thicknesses (owned party wall to be included) but excluding yards, backyards and shafts. FLOOR SPACE (PDG 2007Cl 3.5) measuring internal floor area less circulation space.
5 MINIMUM DWELLING SIZE (PDG 2007Cl 3 MINIMUM DWELLING SIZE (PDG 2007Cl 3.7) gross floor area including owned floor wall thicknesses. BUILDING FOOTPRINT (PDG 2007Cl 3.1) footprint should be calculated by measuring the space contained within the external walls at ground floor level, including internal yards or courtyards but excluding terraces and pool decks
6 OTHER LOCAL MEASUREMENT STANDARDS LAND REGISTRY MEASUREMENTS MEASUREMENTS FOR STATISTICAL DATA MEASUREMENTS FOR ESTABLISHMENT OF GROUND RENT MEASUREMENTS FOR CALCULATION OF ENERGY PERFORMANCE CERTIFICATE
7 RICS CODE OF MEASURING PRACTICE (6th Edition) Three core definitions:Gross External Area G.E.A.Gross Internal Area G.I.A.Net Internal Area N.I.A.
8 OTHER DEFINITIONSCubic Content (CC) Site Area (SA) Building Frontage (BF) Site Frontage (SF)
9 SPECIAL USE DEFINITIONS (Shops) Retail Area (RA) Storage Area (StoA) Gross frontage (GF) Net Frontage (NF) Shop Width (SW) Shop Depth (SD)
10 SPECIAL USE DEFINITIONS (Offices) Let able Area Exclusive Use : Prime use, restricted prime use, secondary use Communal Use
11 GEA BUILDING COST ESTIMATION RESIDENTIAL PROPERTY VALUATIONS APPLICATIONSGEANormal practice to refer to Gross External Area forBUILDING COST ESTIMATIONRESIDENTIAL PROPERTY VALUATIONSREBUILDING COST ASSESSMENT
12 GIA DEPARTMENT STORES COMMERCIAL BUILDINGS APPLICATIONSGIANormal practice to refer to Gross Internal Area in valuations forDEPARTMENT STORESCOMMERCIAL BUILDINGSWAREHOUSES & INDUSTRIAL BUILDINGS (consideration also given to cubic content)
13 NIA OFFICES SHOPS SUPERMARKETS RETAIL OUTLETS APPLICATIONS Normal practice to refer to Net Internal Area in valuations forOFFICESSHOPSSUPERMARKETSRETAIL OUTLETS
14 GUIDANCE NOTES TO THE REBUILDING COST ASSESSMENT FORM APPENDIX CGUIDANCE NOTES TO THE REBUILDING COST ASSESSMENT FORM
15 REBUILDING COST ESTIMATES NEW FOR OLD INDEXED NEW REPLACEMENT COST DEPRECIATED REPLACEMENT COST COST OF REBUILDING ONLY
16 BUILDING COST ASSESSMENT FORM INSURANCE COVER TYPEAREA = GEABASIC UNIT COST
17 ADJUSTMENT TO BASIC UNIT COST AccessRegional variationsSite works and demolitionServicesFixtures and fittingsSpecial featuresand
18 Floor finishesPlant and machineryFluctuationsRe assessments
19 TOTAL REINSTATEMENT COST PROFESSIONAL FEES MEPA FEES VAT ON FEES AND BUILDING COSTS RECOMMENDED SUM AT TODAY’S DATE ANY ALLOWANCE FOR INFLATION
20 CONCLUSIONAPPENDIX A & APPENDIX C PROVIDE VALUERS WITH INTERNATIONALLY RECOGNISED BENCHMARKS FOR MAKING AND INTERPRETING VALUATIONS AND COST ESTIMATES.