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Hot Topic Highlight – IPMS Update



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What is today's blog about?


In this week’s blog, we take a look at the latest International Property Measurement Standards (IPMS) update. This is essential reading for all RICS APC and AssocRICS candidates undertaking the Measurement competency, as well as qualified Chartered Surveyors.


What current guidance must be followed?


Clearly understanding and applying the latest RICS measurement guidance is a common source of confusion for RICS APC and AssocRICS.


Candidates must follow RICS Property Measurement (2nd Edition), which incorporates IPMS for Residential and Office Buildings. These are of mandatory application and must be reported when measuring these types of buildings.


Candidates can dual report if requested by a client (or make a departure, if justified) to both IPMS and the Code of Measuring Practice bases. For example, an office could be dual reported to IPMS 3 and NIA or a residential house could be dual reported to IPMS 3B and GIA.


What’s new?


IPMS have also released two further standards for Industrial and Retail Buildings. These have not yet been adopted by RICS in technical guidance (i.e., a future 3rd Edition of Property Measurement) so they are not yet of mandatory application.


Candidates should be aware of their existence but are unlikely to have any experience of applying them in practice, unless perhaps a client has specifically requested their early adoption.


IPMS Retail Buildings was published in September 2019, whilst IPMS Industrial Buildings was published earlier in January 2018. Neither have been incorporated to date by RICS in an updated edition of Property Measurement.


There is also a final IPMS standard, All Building Asset Classes, which was closed for consultation in March 2021. We understand that this standard should be published in the near future by IPMS (but again not adopted by RICS until a new edition of Property Measurement is released).


What bases does IPMS Retail Buildings include?


  • IPMS 1 – External - typically used for planning purposes or summary costing of development proposals

  • IPMS 2 – Retail (Internal) – typically used for providing data on the use of space or for benchmarking

  • IPMS 3A, B and C – Retail (Occupier) – typically used for transactional and cost allocation purposes


IPMS 3A relates to the area in exclusive occupation, including the floor area occupied by external walls, internal walls and pillars. It excludes any external floor areas, sheltered areas and ancillary areas.


IPMS 3B relates to the area in exclusive occupation, including the floor area occupied by internal walls and pillars. It may also include external floor areas and ancillary areas.


IPMS 3C relates to the area in exclusive occupation, excluding the floor areas occupied by external walls, internal walls and pillars.


What bases does IPMS Industrial Buildings include?


  • IPMS 1 – External – typically used for planning purposes or summary costing of development proposals

  • IPMS 2 – Industrial (Internal) – typically used for providing data on the use of space or for benchmarking

  • IPMS 3A – Industrial (External: Exclusive Occupation) and IPMS 3B – Industrial (Internal: Exclusive Occupation) – typically used for sale and leasing purposes


What bases does the draft IPMS All Building Asset Classes include?


  • IPMS 1 – External – the floor Area for all or part of a Building measured to its external boundary

  • IPMS 2 – Internal – the floor Area for all or part of a Building measured to its internal boundary

  • IPMS 3A – Exclusive Occupation External - the Floor Area available on an exclusive basis to an occupier measured to the external boundary of the Building

  • IPMS 3B – Exclusive Occupation Internal - the Floor Area available on an exclusive basis to an occupier and where appropriate, measured to the internal boundary of the Building

  • IPMS 4A – a selected measured Floor Area which includes internal Walls and Columns

  • IPMS 4B - a selected measured Floor Area which excludes internal Walls and Columns


How can we help?


Stay tuned for our next blog post to help build a better you.


N.b. Nothing in this article constitutes legal, professional or financial advice.