What does gross lettable area mean?
Gross lettable area is more commonly known in CRE by its abbreviation GLA. It is generally comprised of office, warehouse, factory, or shops. This is the space that a commercial property landlord bases his rent and expenses charges to a tenant on. It is normally expressed as square meters or square feet.
What is included in gross leasable area?
Gross Leasable Area (GLA) means the total floor area of a building including basements, mezzanines and upper floors minus common areas including public walkways, malls, public toilets, service facilities and joint service facilities.
What is a lettable area?
Gross lettable area, also known as gross leasable area (GLA) is the amount of floor space which is available for rent in a commercial property. Basically it is the actual square-unit of a building that may be leased or rented to tenants and is the area used to compute the lease or rental payments.
How do you calculate gross lettable?
The GLA is the total area of the building enclosed by the dominant face, adjusted by deducting major vertical penetrations. It comprises the usable area plus common areas of the building but excludes car parking.
What does lettable mean?
Definition of lettable chiefly British. : capable of being rented or leased.
What does gross area mean?
(See figure 3-2 below) Definition. The sum of all areas on all floors of a building included within the outside faces of its exterior walls, including all vertical penetration areas, for circulation and shaft areas that connect one floor to another.
What is net leasable area?
In a building or project, floor space that may be rented to tenants. The area upon which rental payments are based. Generally excludes common areas and space devoted to the heating, cooling, and other equipment of a building. Contrast with Gross Leasable Area.
What is the difference between net lettable area and gross lettable area?
Gross Lettable Area – GLA – for industrial buildings, showrooms and freestanding supermarkets. Net Lettable Area – NLA – which is used for office buildings and tenancies. Gross Lettable Area Retail – GLA-R for retail tenancies in shopping centres, commercial buildings and strip shops.
What’s another word for flavorful or palatable?
Frequently Asked Questions About palatable Some common synonyms of palatable are appetizing, savory, tasty, and toothsome. While all these words mean “agreeable or pleasant especially to the sense of taste,” palatable often applies to something that is found to be merely agreeable.
Is Lettability a word?
GRAMMATICAL CATEGORY OF LETTABLE Lettable is an adjective. The adjective is the word that accompanies the noun to determine or qualify it.
How do you calculate gross area?
Calculate the area of each square or rectangle by multiplying the length by height. Add up the area of each square or rectangle to obtain the total gross area.
Whats the difference between gross area and net area?
Gross floor area: The total area of a building, calculated on a floor-by-floor basis, enclosed by the outer building’s outer walls. Net floor area: Commonly also referred to as “net area”, the net floor area is derived when the construction area, or the outer walls of a building, is deducted from the gross floor area.
What is the abbreviation for gross lettable area?
Gross lettable area. Gross lettable area is more commonly known in CRE by its abbreviation GLA. It is generally comprised of office, warehouse, factory, or shops.
What is the Gross Lettable Area (GLA)?
The Gross Lettable Area (GLA) is determined by including everything within the external walls for single tenant GLA buildings. A Gross Lettable Area Survey is used for calculating tenancy areas in warehouses and industrial buildings generally following two general rules;
What is the Gross Lettable Area (GLA) of the shopping centre?
The shopping centre has a Gross Lettable Area (“GLA”) of 25 336 m2, is anchored by a 14 091 m2 Auchan hypermarket with a remaining lease term of 12 years, and consists of 78 other retail units.
What is letlettable area?
Lettable Area means the lettable area of the Premises measured in accordance with the method of measurement adopted by the Property Council of Australia for buildings which are similar to the Premises.