“Forgotten GLA”
Gross leasable area – one of the most important KPI of a leased asset, yet many landlords do not possess accurate data. Due to the complex history of the asset (e.g. fluctuation of employees, initial architectural calculation mistakes), inaccurate GLA data is a common problem of landlords.
For example, in case of an average shopping center with GLA around 50 000 sqms, even a small, 1% GLA adjustment increases annual income significantly not to mention the value of the asset. Experience shows that the initial average inaccuracy is around 3%.
Our service includes comparing plans to GLA database in order to find the “forgotten square meters”.
Changing the calculation standard
We also offer advisory on available international and national GLA calculation standards and support the transition to a more favorable calculation method.
These are great opportunities to increase the total GLA without physical investments. After setting the new the new standards the “found squaremeters” can be activated unit by unit in new contracts and contract renewals.
Search for expansion options
Off course, beside getting the most out of as-built status, we offer to advice on options for physical GLA expansions in a form of a survey and report. With solid experience in the retail and office sector we believe that we are able to bring new feasible ideas of expansion.
Such a surveys can be equipped with an on site inspection as well if the available plans are not accurate enough. Or combined with smart layouts, the exact goals and progress of the project can be monitored in a great way.
Some illustration of common problems and questions in the topic:
WHERE IS THE EXACT PREMISE BORDER?
INTERNATIONAL,
NATIONAL,
OR CUSTOM
GLA CALCULATION STANDARD?
ACTUAL TO CONTRACTED GLA
VISUAL ANALYSIS
EXAMPLE: UNITS HIGHLIGHTED OVER 3% DIFFERENCE
GLA EXPANSION ANALYSIS
MAPPING UNUSED SPACES
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ASSET & PROJECT MANAGEMENT TOOLS