This study explores the potential of GIS to map and analyse the distribution, stock and value of commercial and industrial property using rating data compiled for the purposes of charging business rates taxation on all non-residential property in the UK. Rating data from 2010, 2017 and 2019, comprising over 6000 property units in the City of York, were filtered and classified by retail, office and industrial use, before geocoding by post code. Nominal rateable values and floor areas for all premises were aggregated in 100 m diameter hexagonal grid and average rateable value calculated to reveal changes in the distribution and value of all employment floorspace in the City over the last decade. Temporospatial analysis revealed polarisation of York’s retail property market between the historic city centre and out-of-town locations. Segmenting traditional retail from food and drink premises revealed growth in the latter has mitigated the hollowing out of the city core. This study is significant in developing a replicable and efficient method of using GIS, using a nationally available rating dataset, to represent changes in the quantum, spatial distribution and relative value of employment floorspace over time to inform local and national land administration, spatial planning and economic development policy making.
This document may differ from the final, published version of the research and has been made available online in accordance with publisher policies. To read and/or cite from the published version of the research, please visit the publisher's website (a subscription may be required.) | P a g eInvestigating Retail Property Market Dynamics through Spatial Accessibility Measures Abstract Purpose: The retail property market is constantly adapting to the continuous demand of retailers and their consumers. This research project investigates retail property market dynamics through spatial accessibility measures of York's street network. It explores how Spatial Accessibility Metrics (SAM) explain Retail Market Dynamic (RMD) through changes in the city's retail rental values and stock. Methodology/Approach: Valuation Office Agency (VOA) datasets (aspatial) and Ordnance Survey Maps (spatial) form the empirical foundation for this investigation. Changes in retail rental value and stock between 2010 and 2017 of VOA datasets (valuation summary lists)represented the RMD variables. While, the configured street network measures of space syntax, namely, global integration, local integration, global choice and Normalised Angular Choice (NACH) were utilised as the SAM variables. The relationship between these variables were analysed through geo-visualization and statistical testing using QGIS and SPSS tools. Findings:The study reveals that there has been an overall negative changes of 15% and 22% in rental value and retail stock respectively, even though some locations within the sampled city (York, North Yorkshire, England) indicated positive changes. The study further indicated that changes in retail rental value and stock have occurred within locations with good accessibility index. It also verifies that there are spatial and statistical relationship between variables and 22% of RMD variability was jointly accounted for by SAM.Originality/Value: This research is the first to investigate changes in retail property market variables through spatial accessibility measures of space syntax. It contributes to the burgeoning research field of Space Syntax and real estate.
This study explored retail location performance of cities by investigating relationships between changes in retail property stock (supply), changes in retail rental value (demand), and spatial accessibility (retail consumer movement) across three UK cities, namely, Leeds, Newcastle, and York. This is to understand how retail locations and assets can be managed sustainably. In this sense, sustainability was considered through a dual focus in this paper: (1) the efficient use of retail property assets for economic purposes and (2) the impact of these physical retail assets on the local environment in terms of carbon footprint. The study relied on space syntax ideology in computing spatial accessibility index and adopted business rate datasets in computing changes in retail rental value and stock. Findings showed that spatial accessibility across retail locations could predict the performance of retail rental value (but not stock) across the sampled cities. The study further showed that extent of city analysis (scale) is significant in estimating retail location performance and understanding the influence of accessibility. This evidence has the potential to facilitate better decision-making concerning the planning, design, and management of retail locations and spaces. The study is significant because it can serve as a reference for promoting an urban sustainability agenda, especially in ensuring that urban land and properties are used optimally to maximise their social, economic, and environmental values.
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