Gross Floor Area Vs Net Lettable Area

The nfa of common property in our building is 40 of the gfa. The square meter is a very important aspect in the office market. Gross lettable area also known as gross leasable area gla is the amount of floor space which is available for rent in a commercial property.

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Basically it is the actual square unit of a building that may be leased or rented to tenants and is the area used to compute the lease or rental payments.

Gross floor area vs net lettable area.

There are three generally accepted methods of measuring building areas. In the case of external building walls measuring from the dominant portion of the outside faces of walls of the building alignment. The answer is probably no. It s more like 4 000 or 4 500 or 4 700 it depends.

Definitions of gfa including which areas are to be counted towards it and which areas aren t vary around the world. But when we talk about square meters do we all mean the same thing. For accurate benchmarking purposes nfa must be calculated using a consistent methodology. Current terminology used to describe floor area such as rentable area usable area leasable area net internal area net lettable area and carpet area means different things in different markets.

The net lettable area of a building is the sum of its whole floor lettable areas. There are different kinds of terms for this unit. How is building or lettable area calculated. Taking measurements from the internal finished surfaces of permanent internal walls and the internal finished surfaces of dominant portions of the permanent outer building walls.

The floor area within the inside perimeter of the exterior walls of the building under consideration exclusive of vent shafts. So that 5 000 sq. This results in confusion for owners and occupiers working internationally. The whole floor net lettable area is calculated by.

The actual square footage of the tenant s space is called the net rentable area of the space. Office space that you are looking to lease probably isn t really 5 000 sq. The lettable area is a measurement of the floor space and or land area of a property and is used to assist in rental calculations and property market assessments. Commercial office floor area calculation methods.

Gross floor area gfa in real estate is the total floor area inside the building envelope including the external walls and excluding the roof. Gross lettable area gla is a measurement of the total occupiable floor space taken from the exterior wall. Gross lettable area is the floor space within a tenancy at each level using the following rules. In the business real estate world there is spoken of a gross floor area gfa and a rentable.

What is gross floor area gfa and what is lettable floor space lfs. Adding to this confusion is the practice among some developers to use gross leasable area gla and gfa interchangeably or to use. Included in the lettable area. The net floor area nfa of the private units in a residential condo building is typically 60 of the gross floor area gfa.

The gross leasable area usually incorporates a core factor of 15 25 percent of more.