Effect Of Accessibility On Shop Rental Values In Central Market, Bauchi Metropolis
Adeleke, Moses Adegbile
Department of Estate Management and Valuation, Oke Ogun Polytechnic, Saki, Oyo State, 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 in determining the risks and rewards of any investment. The purpose of the 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 in various market locations relative to the main thoroughfare. To determine whether rent varies and the relationship between rental price and distance, To gather the data, a stratified random sample approach was used. Analysis was done using descriptive statistics and linear regression in SPSS to determine the impact of various factors. The information showed that as distance increases, rent varies within the market. It was discovered 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. Additionally, the report recommended that the government create market parking. The authority should also provide appropriate loans to private shop property investors at low interest rates in order to increase investment in this sector.