How Building Surveyor Wollongong Help Ensure Good ROI of Construction Projects

Posted by Geo surv on September 16th, 2019

In Wollongong, a building surveyor plays a critical role in constructing commercial properties to ensure they generate a good return on investment (ROI).

How?

Guaranteeing that a commercial building will be safe, accessible and energy-efficient for its intended use is the responsibility of a building surveyor. Wollongong commercial property owners will only be able to lease their property once a building surveyor has certified it as good for use. A building surveyor is deeply involved in every stage of a commercial construction project .

Before Construction

With their in-depth knowledge of local & national legislation, a building surveyor checks the required documentation that should be included in a building permit application before issuing it. They also ensure that any approval needed from reporting authorities are obtained. These may include the council, water authority and fire brigade.

During Construction

After construction commences, a building surveyor is then tasked to conduct mandatory inspections as work progresses. They do this to make sure that the building work performed adheres to the building permit and the local & national legislations. Moreover, they regularly coordinate with other building industry professionals to relay their observations & provide sound advise on the different aspects of the project. They also communicate with property owners but they usually direct their concerns to architects, engineers and builders.

After Construction + Another Surveyor

After construction is done, a commercial property undergoes final inspection & must be approved by a building surveyor. Wollongong property owners should then get a survey of lease area upon getting the approval. This survey is also critical to ensure a smooth & hassle-free lease later on. To clarify, this is done by a lease area surveyor and not a building surveyor.

What is a lease area survey?

It measures the floor area or space within a building. This becomes the basis for determining the rental value under the terms of a lease agreement. A survey of lease area is needed when entering into a new agreement or renewing or negotiating one. It is also needed to comply with the legal requirements of the Property Council of Australia (PCA), the leading advocate of the property industry in the country.

Depending on the intended use of the property, either of the following three types of lease area survey is needed:

•  Net Lettable Area (NLA)

o Commercial properties like office buildings & business parks

•  Gross Lettable Area (GLA)

o Industrial sites like warehouses & showrooms

•  Gross Lettable Area - Retail (GLAR)

o Retail areas like free-standing shops, shopping centres & strips

The survey also prevents disputes between lessors and lessees. By providing precise measurements, both parties know where the leased area starts and ends.

In summary, without a building surveyor, Wollongong commercial property owners will not be able to market & lease their property since building surveyors need to inspect & certify that it is good for use first. The same goes for lease area surveyors. The data they provide help ensure a smooth & hassle-free lease later on.