LGAM Knowledge Base

I believe that it is a common practice to break up major buildings into a number of components including fitout. Whilst I have a bit of an idea of what "fitout" means I have been struggling to find an authoritative definition.

Specifier.Com lists the following items under the heading office fitout.

• Office Furniture
• Office Storage Systems
• Office Seating
• Workstations
• Internal Partitions
• Office Equipment

There are one or two items on the list I wouldn't have thought would be classed as fitout.

I am very interested to hear what other Council consider to be included in fitout.

Wayne
Most of this is NOT "building fitout" as far as breaking your buildings into components where one component is Building Fitout.
My understanding of Building Fitout (from a Building valuation perspective) is the internal fittings and fixtures (that are permmanently attached to the
building (internal walls, partitions, room partitions etc).
Other items listed above just happen to be in the building and would be contained in their own asset category for valuation and assessment etc.
They would have significant different economic lives and hence require different depreciation and valuation calculations.
Lighting, heating and air-conditioning etc are generally kept under Building Services - a separate Building component category.
Hope this helps.