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Property Measurement Update – Royal Institution of Chartered Surveyors (RICS)

On New Year’s Day 2016, the RICS Property Measurement 1st Edition became mandatory for all Chartered Surveyors. The RICS Property Measurement updates the RICS Code of Measuring Practice, 6th edition and incorporates International Property Measurement Standards (IPMS).

RICS Property Measurement comprises the following three elements:

  1. Professional Statement: Office Measurement (applies to office measurements only). This is now mandatory.
  2. IPMS: Office Buildings (applies to office measurements only)
  3. Code of Measuring Practice, 6th edition (currently applies to all building classes except offices and is effective globally from 18 May 2015).

This document reflects the first IPMS standard (IPMS: Office Buildings) and will be updated over time to comply with other IPMS standards, including residential, industrial and retail, as they are published. Elements of this document are mandatory for RICS members and will be subject to regulation by the RICS and other elements are professional best practice and practitioners are strongly advised to follow them.

This is a significant development for the RICS (Royal Institution of Chartered Surveyors), who have collaborated with more than 70 international organisations to develop a brand new standard that complies with global benchmarks. RICS professionals will now deliver property measurement through this Professional Statement, which is in-line with International Property Measurement Standards (IPMS): Office Buildings.

RICS professionals are at the forefront of the development of these new standards and will become worldwide proponents of this new method of measurement. The new standard aims to provide a uniform, transparent and consistent method to measure commercial property across the world.

Why IPMS matters: In its ‘State of the Estate’ the UK Government, a major property owner and occupier, will use IPMS to better understand its own property portfolio especially in meeting a number of cost-cutting targets to rationalise the estate.

“[The Government Property Unit] will be adopting this new standard of office measurement and will be applying it to all new acquisition and building upgrades. The new system will future-proof the way we measure government buildings into the 21st century, as part of our data strategy to create a more efficient, modern estate that is integrated and consistent across government and also internationally.” Matthew Hancock, Minister for the Cabinet Office and Paymaster General, the State of the Estate in 2014–15

The IPMS Coalition is developing the next series of standards in building classes such as residential and industrial. In fact the second public consultation for IPMS: Residential Buildings is now open for comment and we can expect to see further changes in the future, as to how as RICS professionals we approach the measurement of buildings.

[team-member name=”David Cooper”]

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