lease area Surveys

 

Leasing land is a common part of business in Western Australia. Whether you are a small operator starting out with a retail lease in a shopping centre, a multi-national corporation looking to compete in a new market, or a land owner looking for tenants, knowing exactly what area is being leased is the cornerstone of a long, happy lease agreement. The best solution to understand the exact dimensions of a lease, strata lot or site is through a lease area survey.

 

What Is A Lease Area Survey?

 

Lease area surveys are services that establish or confirm the area subject to a lease agreement, set rental rates, and inform property valuations. While this might sound simple, the reality is that there is a fair degree of variation in lease agreements, including determining if the lettable area is to be measured from the interior or exterior of boundary walls, responsibilities of shared spaces, and remain in accordance with Property Council guidelines. Miscalculation of a lease area survey can have significant implications for rental costs/income for all parties, and can incur significant legal costs to rectify.

 

Not all lease area surveys are the same. Broadly speaking, there are three major types of lease area surveys. These are net area surveys, gross area surveys (industrial) and gross area surveys (retail).

 

Net area surveys are specifically significant to the leasing of office buildings. They calculate the net lettable area to a fine degree, omit shared amenities such as bathrooms, elevators and stairs, and can be defined without an interior wall boundary.

 

Gross area surveys (industrial) are most often used when the tenant is looking at leasing the entire structure of a building or parts of the surrounding site. This is often the case for warehouses, stand along super markets or other whole building tenancies in industrial areas.

 

Gross area surveys (retail) apply to tenancies for smaller, retail uses. These apply when leasing tenancies in shopping centres, strip shops, or retail spaces at the base of apartment towers.

 

Accuracy in lease area surveys is in the best interests of all parties, where over the life of a twenty-year lease, small issues can result in significant costs to rectify.

 

Why Use Surveyors In Perth For Lease Area Surveys?

 

Lease area surveys are services that establish or confirm the area subject to a lease agreement, set rental rates, and inform property valuations. While this might sound simple, the reality is that there is a fair degree of variation in lease agreements, including determining if the lettable area is to be measured from the interior or exterior of boundary walls, responsibilities of shared spaces, and remain in accordance with Property Council guidelines. Miscalculation of a lease area survey can have significant implications for rental costs/income for all parties, and can incur significant legal costs to rectify.

 

Not all lease area surveys are the same. Broadly speaking, there are three major types of lease area surveys. These are net area surveys, gross area surveys (industrial) and gross area surveys (retail).

 

Net area surveys are specifically significant to the leasing of office buildings. They calculate the net lettable area to a fine degree, omit shared amenities such as bathrooms, elevators and stairs, and can be defined without an interior wall boundary.

 

Gross area surveys (industrial) are most often used when the tenant is looking at leasing the entire structure of a building or parts of the surrounding site. This is often the case for warehouses, stand along super markets or other whole building tenancies in industrial areas.

 

Gross area surveys (retail) apply to tenancies for smaller, retail uses. These apply when leasing tenancies in shopping centres, strip shops, or retail spaces at the base of apartment towers.

 

Accuracy in lease area surveys is in the best interests of all parties, where over the life of a twenty-year lease, small issues can result in significant costs to rectify.

 

Contact Expert Surveyors in Perth For Lease Area Surveys

 

If you are in need of reliable, efficient and professional lease area surveyors, or simply want only the most experienced team to meet your surveying needs, call Horizon Surveys today. We are a WA owned company and can handle your surveying job, from subdivisions to mining tenements, Horizon Surveys is WA's most trusted surveying company, get in touch today! 

What We Offer

Survey Strata

For developments with vacant or Non vacant lots

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Built Strata

For developments with 2 or more dwellings on the parent Lot.

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Strata Merger/Conversion

For the addition of Buildings/Common property to a Strata Plan

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