What is the meaning of lettable area?
Related Definitions Net Lettable Area means the floor area in a building that is to be leased and in respect of which a rent is payable, which generally excludes common areas (such as corridors, public atrium and toilets) and areas used to accommodate building and property management facilities and services.
What is net lettable area Singapore?
A Net Lettable Area Survey is typically used for calculating tenancy areas in office buildings. The measurements are taken from the internal finished surface of permanent internal finished services of dominant portions of the permanent outer building walls.
What is NLA and GFA?
Councils, PCAs, banks, developers all operate on a measurement called “GFA” (Gross Floor Area). The end user – Developers, Land Lords, and real estate agents and tenants are interested in “NLA” (Net Lettable Area).
How do you calculate gross leasable area?
To get the gross leasable area for one tenant, you would measure from the center of the common wall (shared with another tenant) to the outside face of the external wall. The external wall can be a shopfront, a window display, or just a flat wall. Regardless, it is included in the gross leasable area.
What is the meaning of lettable?
capable of being rented or
: capable of being rented or leased.
What is GLA in construction?
Applicable Standards: GENERAL / GENERIC TERM. Term used in retail leasing. It is generally the floor area available for the exclusive use of a retail tenant measured to the outside face of exterior walls and the centerline of demising walls separating tenants. Includes basements and mezzanines.
What is the difference of NFA and GFA?
Net Floor Area (NFA) refers to the usable floor area and is also known as Net-Usable Area or Occupied Area. Gross Floor Area (GFA) refers to the area included in surrounding walls of a building e.g offices, stores, meeting rooms, risers, internal porches etc, or portion thereof (excluding Carparks & External Corridor).
What is a GLA in real estate?
GLA is defined by The Dictionary of Real Estate Appraisal as the “Total area of finished, above-grade residential space; calculation by measuring the outside perimeter of the structure and includes only finished, habitable, above-grade living space.
What is a gross leasable area?
What does leasable area mean?
Leasable Area is the total area of properties available for leasing. For development located in the Commercial-Regional zone which is further regulated by resolution(s) of the City Council, floor area shall be defined by the Gross Leasable Area.
What is lettable bedroom?
Related to lettable room. Habitable room means a room or enclosed floor space within a dwelling unit used or designed to be used for living, sleeping, cooking, or eating purposes, excluding bathrooms, water closet compartments, laundries, pantries, foyers or communicating corridors, closets, and storage spaces.
What is GLA sq ft?
GLA is defined by The Dictionary of Real Estate Appraisal as the “Total area of finished, above-grade residential space; calculated by measuring the outside perimeter of the structure and includes only finished, habitable, above-grade living space.
What does GLA mean in real estate?
Gross Living Area
Under ANSI standards, Gross Living Area (GLA) is the term used in most residential appraisal reports.
Is terrace included in plinth area?
The plinth area also includes the area covered by the terrace, balcony or any room lying outside the space enclosed by the walls of your house. Plinth area= Carpet area + Area covered by internal walls + Area covered by internal walls + Area covered by terrace, balcony, etc.
Is terrace included in built-up area?
In easy words, built-up area is the carpet area plus the area covered by walls. The built-up area includes balconies, terraces (with or without roof), mezzanine floors and other detachable habitable areas such as servant room, etc.
What is CFA area?
CONDITIONED FLOOR AREA (CFA) is the floor area (in square feet) of enclosed conditioned space on all floors of a building, as measured at the floor level of the exterior surfaces of exterior walls enclosing the conditioned space.
Whats CFA stand for?
Chartered Financial Analyst®
Chartered Financial Analyst® (CFA®) charterholders apply their knowledge and skills in a wide range of positions throughout the global finance industry.
What is net lettable area?
Definition of Net Lettable Area. Net Lettable Area means the area in the IR that is to be leased for retail purposes, excluding common areas such as corridors, lift shafts, fire escape, staircases and toilets, which said Net Lettable Area shall not, in any case, be less than 52,000 square metres; Sample 1.
What is a gross lettable area survey?
A Gross Lettable Area Survey is used for calculating tenancy areas in warehouses and industrial buildings generally following two general rules; In the case of external building wall measuring the dominant portion of the outside faces of walls
What is a light lettable area (LLA)?
Lettable Area means the area calculated in accordance with the appropriate method of measurement published as at the Commencement Date by the Property Council of Australia for that type of premises. It is based on dividing the total power of the base lighting system in the assessed space by the Net Lettable Area (NLA) of that space.
What is the difference between lettable area and normal business hours?
Lettable Area means the area determined by the Landlord ’s surveyor according to the method of measurement adopted for the time being by the Property Council of Australia, or any equivalent method of measurement the Landlord may nominate. Normal Business Hours means the hours stated in Item 14.