News

Murphy Surveys Land & Property

Murphy Surveys are experts in the capture, reporting and analysis of geospatial measurement

Murphy Surveys are experts when it comes to capturing, recording and analysing geospatial information. Where spatial certainty is required an accurate and precise survey is an absolute must.

Precision and accuracy are key aspects of every measurement project that we undertake. In our experience measurement can mean different things to different people, and this ambiguity can have a direct impact on a project and it’s deliverables.

For example, does a square meter of floor space mean the same wherever you are in the world? Research by Jones Lang LaSalle highlighted that depending on the method of area reporting used, the area may vary by up to around 24%. This is a worrying statistic for organisations who need and rely on accurate data when detailing their property portfolios.

As recently reported, Dublin retail rents are six times higher than the national average and are expected to increase by a further 6% in 2018. This 6% rise equates to an increase of €180k for a 500 sqm retail unit at €6,000 sqm. This calculation assumes that the actual floor area reported is correct. An actual area discrepancy of just +/-10%, will result in a rental price fluctuation, anywhere from €2.7m to €3.3m per annum. A precise floor area survey will help our clients to accurately calculate rents. Service charges and rates are also tied to area measurement and inconsistencies may therefore give rise to further monetary losses. The importance of commissioning a precise and accurate area measurement survey in accordance to regulation and standards cannot be overlooked if you require measurement certainty.

Introducing Murphy Surveys Head of Land & Property, Diarmuid Murphy

Murphy Surveys Director Diarmuid Murphy has recently returned to Ireland with a wealth of knowledge to spearhead the company’s new Land and Property Department. Diarmuid has previously spent several years working on large land and property projects throughout the UK, which included the redevelopment of the Old War Office at 57 Whitehall, London. The Old War Office is a Grade II listed Edwardian building of historical significance and importance. Overall the project encompassed c. 1,100 rooms and 2 miles of corridors that spanned over 7 floors – the accuracy and precision required to capture a building of this nature, without issue, is obvious from the very outset.

“Redundancy and surety is critical in all that we do, therefore any element of ambiguity needs to be removed. RICS Guidance Note – Property Measurement, 2nd edition will soon come into effect (1 May 2018) and is a step forward in improving reporting standards for residential and office area measurement reporting.” Diarmuid advises.

“This is an important document as the variables presented by measuring and the techniques that may be applied can and do result in sizeable area discrepancies. To create continuity through measurement it is important to consider what detail accuracy is required and what most suits our clients’ needs. Within the current Property Measurement, at Appendix A, the different tolerances are clearly presented for all to see.  It is important to note that RICS Professional Statement is a mandatory requirement for all RICS members and regulated firms. Therefore, and on that basis Property Measurement, 2nd edition is a document, of concern, for all who partake in measuring property.”

 

At Murphy Surveys we take these regulations seriously and the services we offer are in accordance with all professional standards in our industry. Furthermore, we simplify technical definitions through clear and unambiguous reports.

We offer a range of services from area calculation to the 3D data capture of a property for marketing, asset management and digital records as well as the possibility of developing a virtual tour.

If you have any area measurement or survey requirements contact Diarmuid for clear, impartial advice.

Diarmuid Murphy  |  01 690 9799  |  dmurphy@murphysurveys.ie