It’s surprisingly common for the area measurements and floor plans of properties to be out of date and not reflect recent alterations. The removal of a mezzanine or the reconfiguration of the internal layout may mean you have incorrect layout information. Drawings can often vary and offer different levels of information depending on their use, for example lease plans may contain different information to tenancy schedules or marketing particulars. Or sometimes there’s no information at all!
Whether you’re an owner or occupier, having accurate, up-to-date survey information is always important, and even more so now in the wake of COVID-19. From planning a return to work with social distancing space planning, to maximising rental income, we list below some of the reasons why you should consider re-measurement of your space now.
Imagine you’ve spent weeks reviewing your current layout, using existing plans to map out your social distancing strategy for a return to work, only to find the information you are using is out of date and inaccurate.
Whether it’s retail, office space or industrial, planning to safely re-open can only be done accurately with up to date information and measurements. Get this part wrong and you could find yourself in breach of the new government guidelines for working safely during COVID-19. For example, employers are now required to define the number of people that can reasonably work with 2m of social distancing within the building. This needs to take into account pinch points and total floor space. If your plans are out of date, you risk getting this wrong.
It’s not just occupiers who are accountable for ensuring this is planned correctly. Owners also need to take responsibility for putting social distancing measures in place for common parts, reception areas, staircases, even communal toilets.
By having your building measured and accurate plans drawn up now, you can have full confidence that your future plans will work. If you require assistance with your reopening strategy, we have an in-house team of workspace experts and space planners on hand to help. We can also produce virtual walk throughs of your space using our new Hollis 360 data capture cameras. View an example H360 tour here.
Lease events, acquisitions and disposals: making every penny count
Many lease events reply partly on area measurements and floor plans for costing. For landlords, it’s important to have accurate measurements to guide rental value and ensure returns are maximised. Carrying out the measurement exercise before a tenant makes alterations allows the landlord to document and capture the original layout of the building. This is useful information to have for any potential disputes or dilapidations claims. It also enables the landlord to maximise the total area before fixtures and fittings are added.
For occupiers moving into new space or starting new lease periods, having access to up to date floor plans will give them an accurate layout of the space they are signing up to. It also enables them to plan the space and whether it is sufficient for their needs.
Similarly, in the world of acquisitions and disposals, having up to date floor plan information eliminates the risk of vendors selling themselves short, or purchasers paying over the odds.
Our in-house team of experts are also on hand to provide advice on navigating lease events and dilapidations, or to provide technical due diligence and advice to support transactions. This topical subject was covered recently in our ‘Hollis Experts Discuss’ video, which you can watch here.
Why now more than ever?
COVID-19 and its economic impacts have brought about an immediate need for owners and occupiers to protect their investments. There is a requirement for social distancing measures and that’s why auditing your space and knowing exactly what you have is so important.
Alongside that, with companies encouraging employees to work from home wherever possible, many properties are still vacant. This makes it easier and faster for us to navigate the space and undertake our measurement surveys, with minimal disruption.