In the instance of a property comprising one building, the property name and building name may be the same.
Where the property is comprised of various buildings (such as an office, industrial or retail park, or a mixed-use asset), it is likely that the building names will differ from the property name.
Property hierarchy explained
Each of the below elements is nested in a many-to-one relationship to the preceding element. (Thus the elements appear in sequence)
The below explains the most complicated property hierarchy. Since no two properties are the same, and properties vary in complexity, it is perfectly acceptable that, in many instances, one or more elements may be missing from the below:
- Property
- Building
- Building component
- Floor
- Unit
- Complex space
Explanatory example of a building name
This is best addressed using an office park property, comprising 3 buildings and 20 units.
How would one answer the question – what is the name of the building in Alphabet Park?
The property, known as Alphabet Park, comprises 3 separate buildings (with detail as follows):
- Building 1, located in the north – is called ABC House
- Building 2, located in the centre – is called HIJ House
- Building 3, located in the south – is called XYZ House
If the question is rephrased as “What is the name of the southerly building in Alphabet Park”, the answer can be provided easily – XYZ House.
