Lease Area Surveys Across Melbourne

Back to Services

What is a Lease Area Survey?

Lease Area Surveys are carried out to measure the area of land or space within a building. This area serves as the foundation for calculating the rental value of the property or land under the terms of the lease agreement.

Methods of Measurement

Depending on the kind of area that is being leased, there are different ways to calculate a space’s lettable area.

Three standards used in commercial leases have been established by the Property Council of Australia:

  • Net area surveys for commercial properties such as office buildings and Business Parks.
  • Gross area surveys for industrial sites such as warehouses, showrooms, industrial workshops and for free-standing supermarkets.
  • Gross area surveys for retail tenancies in shopping centres, shopping strips and free-standing shops.

The Property Council of Australia Method of Measurement guidelines makes sure that lettable area calculations are done consistently across a range of businesses or applications, including corporate office buildings, supermarkets, and retail spaces in malls. The guidelines are a great place to start, but a licensed land surveyor will be able to interpret them, offer advice on how to apply them best to your particular needs, and help you finish your lease area plan.

(Note: Lease Area Surveys were formerly known as BOMA surveys, and the Building Owners and Managers Association served as the previous equivalent industry body.)

Lease Area Surveys in Melbourne

Tenants, property owners, property managers and agents all need lease area surveys in order to enter into renewing or negotiating a lease of a property for your business.

Why Do We Need a Lease Area Survey?

Lease area surveys/plans are necessary:

• To abide by the Property Council of Australia’s legal requirements, which may apply to long-term or expensive leases.
• To prevent owner-tenancy disputes over the use of the land or area during the term of the lease. Simply put, if an area is incorrectly quoted, it could easily result in expensive disputes or legal action. As a tenant, you only want to pay for the space you actually use, and as an owner or agent, you only want to lease a certain area.
• For the purpose of future business planning cost and use. Once more, over the course of ten years, a small error in calculating a leased area can have a sizable impact.

Planning on getting your lease area survey/plan? Contact us today!

GET IN TOUCH

Head Office 1A Bruce Street, Kensington, Victoria, 3031