The Royal Institution of Chartered Surveyors (RICS) has published a draft guidance note, Measurement of Land for Development and Planning Purposes (1st edition), and is seeking comments on it. The Consultation closes on 17 September 2019, with a view to it being adopted by the end of the year.
There are a number of core definitions that have been proposed to assist with the definition of land. These include:
Land Area: Referring to the legal title area of land.
Site Area: Referring to the area of land used for planning application purposes.
Net Development Area: Referring to the area from which financial value is directly derived, by virtue of either being income-producing or for sale.
Plot Ratio: The ratio of Gross External Area (GEA) of a building or buildings at each floor area, under the International Property Measurement Standards, to the site area. This measurement is already used as a standard metric for planning and design in some sectors and jurisdictions.
The ratio of Gross External Area (GEA) of a building or buildings at each floor area, under the International Property Measurement Standards, to the site area. This measurement is already used as a standard metric for planning and design in some sectors and jurisdictions.
Site Coverage: This is the ratio of the building footprint’s GEA to the site area at ground-floor level, and is already a standard metric for planning and design in certain sectors and jurisdictions.
For more information on the consultation, click HERE