At Towers Richardson, we understand the importance of accurate retail zoning (In Terms of Zone A, or ITZA) for valuing retail premises. ITZA is the standard method used across the UK to assess the value of retail space, particularly in high street or prime locations. Our expertise in measured surveys ensures we can produce precise ITZA plans tailored to your needs.
What is ITZA?
Retail zoning divides a shop or retail unit into zones based on proximity to the main display frontage, with values decreasing as distance from the frontage increases. This standardisation allows for fair comparison and valuation of retail properties. The zones are typically as follows:
• Zone A: The area closest to the shopfront (the most valuable space due to visibility and accessibility).
• Zone B: The next section behind Zone A, valued at 50% of Zone A.
• Zone C: Further back, valued at 25% of Zone A.
• Remainder: Any remaining areas (e.g., storage or ancillary spaces), often valued at 10% of Zone A.
Why Accurate ITZA Plans Matter
ITZA calculations are crucial for several purposes, including:
• Setting or reviewing retail rents.
• Negotiating lease agreements.
• Preparing valuations for sales or investments.
Accurate measurement of the premises is vital to ensure ITZA calculations reflect the true value of the space, preventing disputes and ensuring compliance with industry standards.
How Towers Richardson Can Help
With over 30 years of experience producing precise plans for property professionals, Towers Richardson is your trusted partner for ITZA plans. Here’s how we can assist:
1. Measured Surveys: Our expert surveyors conduct detailed on-site measurements of your retail premises, capturing every critical dimension with precision.
2. ITZA Plans: Using data from the survey, we produce accurate ITZA plans that clearly outline each zone (A, B, C, and remainder), ensuring compliance with industry standards and providing a reliable basis for valuation.
3. Nationwide Coverage: Whether you’re managing properties in London, Manchester, or any other UK location, we deliver consistent, high-quality service wherever you need it.
4. Tailored Solutions: We work closely with solicitors, landlords, tenants, and surveyors to ensure our plans meet your specific requirements.
Contact Us Today – 01226 885040
Ensure your retail valuations are accurate and compliant with professional ITZA plans from Towers Richardson. Contact us today to discuss your project and see how our measured surveys can simplify your property processes.
ITZA calculation: A popular term used for tools and guides to calculate “In Terms of Zone A” areas in retail valuations.
Retail zoning valuation: Covers the methodology used to analyse and compare rental values of retail properties based on zoning.
Zone A retail property: Refers to the most valuable area in retail zoning, often the focus of ITZA-based analyses.
Net Internal Area (NIA): Often combined with ITZA for property measurement and valuation discussions.
Halving back principle: A key concept in retail zoning where each subsequent zone’s value is halved relative to the previous one.
ITZA rental comparison: Searches often focus on rental rates and comparables expressed in terms of ITZA.
Retail frontage valuation: Specific to high-street or visible retail locations, highlighting the importance of frontage in ITZA calculations.