International Property Measurement Standards WelcomedThe Property Council of Australia has welcomed the release of the International Property Measurement Standards (IPMS) for office buildings that has been developed by an international coalition of more than professional organisations, emphasising that there was no need to change practices here in Australia.Australia has been a world leader in providing consistency and transparency in how commercial buildings are measured for more than two decades, says Property Council of Australia chief executive Ken Morrison.”The Method of Measurement guide developed by the Property Council is the preeminent standard and is widely cited in commercial contracts and statutes nationwide,” Mr Morrison said.”As a result Australia already has a clear and consistent set of definitions, standards and explanatory materials for the measurement of commercial premises.”The International IPMS Coalition – of which Property Council is a member – has recognised this, with the IPMS for Offices closely mirroring the Method of Measurement’s principles.”There is no need for Australian companies to change their practices as a result of this release. The Method of Measurement will remain Australia’s preeminent guide for measuring commercial premises.”However owners of commercial property who wish to compare buildings across international borders will now be able to convert this entrenched Australian standard readily into an internationally accepted common terminology and reporting framework through the IPMS for Offices.For further information please contact Chris Mountford: 0408 469 734
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