Difference Between Net Lettable Area And Gross Floor Area

Net internal area covers all of those areas that can be used for a particular purpose.

Difference between net lettable area and gross floor area.

Office space that you are looking to lease probably isn t really 5 000 sq. The nfa of common property in our building is 40 of the gfa. How is building or lettable area calculated. 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.

Gross lettable area is the floor space within a tenancy at each level using the following rules. In the case of external building walls measuring from the dominant portion of the outside faces of walls of the building alignment. Definitions of gfa including which areas are to be counted towards it and which areas aren t vary around the world. The gross leasable area usually incorporates a core factor of 15 25 percent of more.

So that 5 000 sq. There are three generally accepted methods of measuring building areas. The actual square footage of the tenant s space is called the net rentable area of the space. Gross floor area gfa in real estate is the total floor area inside the building envelope including the external walls and excluding the roof.

The net internal area nia of a building is the usable area measured to the internal finish of the perimeter or party walls ignoring skirting boards at each floor level. 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. Gross lettable area gla is a measurement of the total occupiable floor space taken from the exterior wall. Listed below are some examples of net floor area to help illustrate the relationship to gross floor area.

Net area is soley the working office space gross area includes all or a proportion of if a shared office the circulatory spaces including stairwells lifts toilets and entrance lobbys etc. Adding to this confusion is the practice among some developers to use gross leasable area gla and gfa interchangeably or to use. 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.