Impact Of Accessibility On Central Market, Bauchi Metropolis Shop Rental Values
Adeleke, Moses Adegbile
Department of Estate Management and Valuation, Oke Ogun Polytechnic, Saki, Oyo State, Nigeria
Keywords: Commercial Aseets, Rental Value, Accessibility, Bauchi, Nigeria
Abstract
The cross - functional and cross of a commercial real estate to other land uses largely determines its value; ease of access is a crucial factor that determine the risks and booties of any investment. The purpose of this research is to determine how accessibility affects the retail space rental values. The goal of this study was to ascertain how much accessibility impacts a retail space's rental value. The following specific objectives were decided upon: to evaluate the rent payable in various market scenes relative to main thoroughfare. To determine whether rent varies and the relationship between distance and rental price. A stratified random sample approach was used. Analysis was done employing descriptive statistics and linear regression to determine the impact of various factors. The information showed that as distance increases, rent varies within the market. It was revealed that there is a strong positive linear relationship between distance to the market and rental value, and that as distance tends to increase, store premises rental prices decrease. Furthermore, the research suggested that market parking be established by the government. To encourage further investment in this area, the authorities could also offer suitable loans at affordable interest rates to investors in private retail real estate.