Difference Between Net Lettable Area And Gross Floor Area

The net floor area nfa of the private units in a residential condo building is typically 60 of the gross floor area gfa.

Difference between net lettable area and gross floor area.

How is building or lettable area calculated. Gross floor area gfa in real estate is the total floor area inside the building envelope including the external walls and excluding the roof. 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. So that 5 000 sq.

Gross lettable area gla is a measurement of the total occupiable floor space taken from the exterior wall. The nfa of common property in our building is 40 of the gfa. Definitions of gfa including which areas are to be counted towards it and which areas aren t vary around the world. 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.

Net internal area covers all of those areas that can be used for a particular purpose. Adding to this confusion is the practice among some developers to use gross leasable area gla and gfa interchangeably or to use. The floor area within the inside perimeter of the exterior walls of the building under consideration exclusive of vent shafts and courts without deduction for corridors stairways closets the. Office space that you are looking to lease probably isn t really 5 000 sq.

There are three generally accepted methods of measuring building areas. 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. The gross leasable area usually incorporates a core factor of 15 25 percent of more. 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.

The actual square footage of the tenant s space is called the net rentable area of the space. 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. Net lettable area sub divided floors same as above but measure to the centre line of inter tenancy walls or partitions except where the walls or partitions adjoin public areas such as lobbies and corridors in which case measure to the line of the dominant portion of their public area faces.