IPMS: Standards for Retail Buildings
– open for consultation until 10 Aug 2018

The Retail Buildings standard is the fourth in the IPMS suite and sets out details of how a retail property should be measured. The skeleton of the IPMS for Retail Building was prepared in the Standards Setting Committee annual meeting held in London last September.  Further to detailed discussions among committee members through conference calls and e-mail exchanges in the last few months, the standard is now published for public consultation.

In the Retail Buildings standard, “Shop Line” is being adopted as one of the boundaries for measuring floor areas for occupation, namely, IPMS 3A - Retail, IPMS 3B - Retail and IPMS 3C – Retail.

The consultation documents and response form are available at:

 

Your response could be sent to consultation@ipmsc.org. Comments will be discussed in the coming Standards Setting Committee meeting held in Sao Paolo, Brazil.  All consultation responses will be published on the IPMSC website (www.ipmsc.org).

About IPMS Coalition

The International Property Measurement Standards Coalition is a group of more than 85 professional and standards-setting organisations from around the world. RICS and CIREA are two of the Coalition members. The coalition is leading a ground-breaking project to create and then embed the first, globally observed standards for measuring buildings.

 

The first of these standards, IPMS for Office Buildings, was published in 2014. Since then professionals, governments, property owners, investors and occupiers have started to use and benefit from the standard, which offers consistency and comparability in measurement data.

 

The Retail Buildings standard is the fourth in the IPMS suite and sets out details of how a retail property should be measured. Following the consultation, the IPMS Coalition will publish responses alongside an updated exposure draft.

Standards                                  Published Date              

IPMS Office Buildings               November 2014

IPMS Residential Buildings       September 2016

IPMS Industrial Buildings          January 2018

IPMS Retail Buildings                Published for public consultation in June 2018​  

Some of the Standards Setting Committee members had a break in the London meeting held at the headquarters office of RICS (Credit to Nicholas Stolatis, one the committee members, who took the picture for us).