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Rental Values in UK Shopping Malls

Author

Listed:
  • Tony Shun-TeYuo

    (Department of Real Estate and Built Environment, National Taipei University, 151 University Road, San Shia, Taipei, 237'41, Taiwan)

  • Colin Lizieri

    (Department of Land Economy, University of Cambridge, 19 Silver Street, Cambridge, CB3 9EP, UK.)

  • Phillip McCann

    (The Faculty of Spatial Sciences, University of Groningen, Postbus 800 Groningen, 9700 AV, The Netherlands)

  • Neil Crosby

    (The Henley Business School, University of Reading, Whiteknights, Reading, RG6 6AW, UK.)

Abstract

This paper employs a unique dataset to analyse the retail rental levels of 1108 retail tenants in 148 UK regional shopping malls. The dataset integrates information regarding the characteristics of the shopping centre, the individual retailer, the brand, the individual unit occupied, the tenancy term and the regional location of the centre. Econometric analysis suggests that retail rents behave largely as predicted by theory although there are particular features of the UK rental market which maybe somewhat distinct from other countries.

Suggested Citation

  • Tony Shun-TeYuo & Colin Lizieri & Phillip McCann & Neil Crosby, 2011. "Rental Values in UK Shopping Malls," Urban Studies, Urban Studies Journal Limited, vol. 48(8), pages 1667-1679, June.
    • Handle: RePEc:sae:urbstu:v:48:y:2011:i:8:p:1667-1679
    DOI: 10.1177/0042098010371391
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    References listed on IDEAS

    as
    1. Brueckner, Jan K, 1993. "Inter-store Externalities and Space Allocation in Shopping Centers," The Journal of Real Estate Finance and Economics, Springer, vol. 7(1), pages 5-16, July.
    2. William G. Hardin III & Marvin L. Wolverton & Jon Carr, 2002. "An Empirical Analysis of Community Center Rents," Journal of Real Estate Research, American Real Estate Society, vol. 23(1/2), pages 163-178.
    3. Philip McCann & Charles Ward, 2004. "Real Estate Rental Payments: Application of Stock-Inventory Modeling," The Journal of Real Estate Finance and Economics, Springer, vol. 28(2_3), pages 273-292, March.
    4. Charles C. Carter & Kerry D. Vandell, 2005. "Store Location in Shopping Centers: Theory & Estimates," Journal of Real Estate Research, American Real Estate Society, vol. 27(3), pages 237-266.
    5. Mark J. Eppli & John D. Benjamin, 1994. "The Evolution of Shopping Center Research: A Review and Analysis," Journal of Real Estate Research, American Real Estate Society, vol. 9(1), pages 5-32.
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    11. John D. Benjamin & Glenn W. Boyle & C. F. Sirmans, 1990. "Retail Leasing: The Determinants of Shopping Center Rents," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 18(3), pages 302-312, September.
    12. Dean H. Gatzlaff & G. Stacy Sirmans & Barry A. Diskin, 1994. "The Effect of Anchor Tenant Loss on Shopping Center Rents," Journal of Real Estate Research, American Real Estate Society, vol. 9(1), pages 99-110.
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    16. West, Douglas S, 1992. "An Empirical Analysis of Retail Chains and Shopping Center Similarity," Journal of Industrial Economics, Wiley Blackwell, vol. 40(2), pages 201-221, June.
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    Cited by:

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