Property use diversity and spatial accessibility within urban retailing centres: drivers of retail rents

Figures & data

Table 1. Data and sources.

VARIABLE LABEL	VARIABLE	SOURCE
LN_RV.ITZA_t	Dependent Variable: Rateable value of unit, In Terms of Zone A per square metre at time point t; natural logarithm transformed.	SAA/VOA rateable value per square metres derived by dividing total rateable value at effective date by estimated Zone A size, square metre.
PLACE ATTRACTION (Attractionit)
RICH_t	Number of different types of land uses (land use richness) within 100 mx100m cell in which property is located at time period t	REPAIR derived land use measures
GSIoD_t	Land use diversity index for 100 mx100m cell in which property is located at time period t
OWN_RICH_t	Number of different types of ownership (ownership richness) within 100 mx100m cell in which property is located at time period t
OWN_GSIoD_t;	Ownership diversity index for 100 mx100m cell in which property is located at time period t
SPATIAL ACCESSIBILITY (SpatAccessit)
SrtNEAR_BUS_DIS	Distance to nearest bus stop; square root transformed.	Public transport availability indicator (PTAI). Economic and Social Research Council. Public transport availability indicator (PTAI), 2020 [June 2016]. University of Glasgow – Urban Big Data Centre.
COUNT_FERRY_1000 M	Count of ferry connections within 1000 m.
SrtNEAR_TRAM_DIS	Distance to nearest tram stop; square root transformed.
SrtNEAR_RAIL_DIS	Distance to nearest railway station; square root transformed.
SrtNEAR_SUBWAY_DIS	Distance to nearest subway station; square root transformed.
NORM_WALKABILITY_t	Normalised walkability index measure based on 400 m radius at time point t.	REPAIR derived space syntax index of walkability estimated using segment analysis as NACH400 x NAIN400. These variables have been calculated from Ordinance Survey maps: LandLine as at April 2000 and May 2005 and MasterMap as at June 2010 and May 2017.
PRIME_PITCH_t	Located on prime pitch at time period t.	1 if unit located on prime pitch; 0 if not. This was determined using Optimisation Hot Spot Analysis weighted by rateable values and identified changes in the prime pitch was cross checked in in-depth interviews with 27 market agents and landlords in the five cities.
PEDESTRIANISED_t	Located on a pedestrianised street at time period t.	1 if unit located on pedestrianised street; 0 if not.
USE AND PHYSICAL FEATURES (Use&Physicalit)
BUSE_CATEGORY_t	Food and beverage broad use category at time period t.	REPAIR derived measure based on property use data. 1 if food and beverage use; 0 if retail use;
CHAIN_t	Property occupied by a regional, national or international occupier that hold two or more units in different locations at time period it.	1 if occupied by a regional, national or international chain occupier; 0 if not.
INV_QUANTUM_t	Small retail unit at time period t where inverse quantum may exist.	1 if unit is a kiosk, stall or unusually small unit; 0 if not.
LiSC	Property located within shopping centre.	1 if unit located within a shopping centre or arcade; 0 if not.
MARKET ACTIVITY (Marketit)
Srt_AS_t	Number of accommodation services units as a percentage of all units within 100 mx100m cell in which property is located at time period t; square root transformed.	REPAIR derived land use measures
Srt_BCO_t	Number of office units as a percentage of all units within 100 mx100m cell in which property is located at time period t; square root transformed.
Srt_PSVS_t	Number of public & social value service units as a percentage of all units within 100 mx100m cell in which property is located at time period t; square root transformed.
Srt_RES_t	Number of residential units as a percentage of all units within 100 mx100m cell in which property is located at time period t; square root transformed.
Srt_SE_t	Number of convenience shops as a percentage of all units within 100 mx100m cell in which property is located at time period t; square root transformed.
Srt_SN_t	Number of comparison shops as a percentage of all units within 100 mx100m cell in which property is located at time period t; square root transformed.
Srt_V_t	Number of vacant units as a percentage of all units within 100 mx100m cell in which property is located at time period t; square root transformed.
AVG_INCOME_t	Average income rate in year t for data zone in which unit is located.	Scottish Index of Multiple Deprivation (SIMD) as at 2004; 2009 or 2016 Copyright Scottish Government, contains Ordnance Survey data © Crown copyright and database right (2004, 2009 and 2016). English Indices of Deprivation 2004, 2007 and 2015; Ministry of Housing, Communities & Local Government. Copyright Ministry of Housing, Communities & Local Government, contains Ordnance Survey data © Crown copyright and database right (2004, 2007 and 2015).
AVG_CRIME_t	Average crime score or count in year t for data zone in which unit is located.

Table 2. Fixed effects panel regression models for 2000⁶.

2000 VARIABLES	OLS (White Standard Errors)		OLS (White Standard Errors)		S2SLS (White Standard Errors)		SWLS (HET)		SW2SLS (HET)
PLACE ATTRACTION
RICH_00	0.024	*	0.024	*	0.021	*	0.022	*	0.022	*
GSIoD_00	−0.700	*	−0.747	*	−0.646	*	−0.703	*	−0.641	*
OWN_RICH_00	0.033	***	0.032		0.038	***	0.033	***	0.038	**
OWN_GSIoD_00	0.247	***	0.235		0.136		0.198		0.139
SPATIAL ACCESSIBILITY
COUNT_FERRY_1000 M	0.252	**	0.215	**	0.219	**	0.213	**	0.232	**
SrtNEAR_BUS_DIS	–		–		–		–		–
SrtNEAR_TRAM_DIS	–		–		–		–		–
SrtNEAR_RAIL_DIS	−0.003		–		–		–
SrtNEAR_SUBWAY_DIS	−0.027	*	−0.028	*	−0.017	**	−0.025	*	−0.018	**
NORM_WALKABILITY_00	−0.011	*	−0.011	*	−0.008	**	−0.009	**	−0.009	**
PEDESTRIANISED_00	−0.005		–		–		–		–
PRIME_PITCH_00	0.411	*	0.402	*	0.390	*	0.396	*	0.391	*
USE AND PHYSICAL FEATURES
BUSE_CATEGORY_001	−0.168	*	−0.168	*	−0.189	*	−0.174	*	−0.184	*
CHAIN_00	0.518	*	0.513	*	0.504	*	0.507	*	0.506	*
INV_QUANTUM_00	0.197		–		–		–		–
LiSC_00	0.125	**	0.128	**	0.115	***	0.120	**	0.119	**
MARKET ACTIVITY
Srt_AS_00	−0.925	**	−0.790	**	−0.873	**	−0.803	**	−0.895	**
Srt_BCO_00	−0.107		–		–		–		–
Srt_PSVS_00	0.190		–		–		–		–
Srt_RES_00	−0.220	***	−0.175	**	−0.114		−0.175	**	−0.109
Srt_SE_00	−0.761	*	−0.724	*	−0.679	*	−0.708	*	−0.662	*
Srt_SN_00	1.450	*	1.551	*	1.456	*	1.523	*	1.431	*
Srt_V_00	−0.077		–		–		–		–
AVG_CRIME	–
AVG_INCOME	–
SPATIAL LAG/ERROR PARAMETERS
ρWγ	–		–		0.964	*	–		0.925	*
λWε	–		–		–		0.737	*	−0.776
REGRESSION DIAGNOSTICS
Number of Observations	1648		1648		1648		1648		1648
R-squared	0.44		0.44		–		–		–
Adjusted R-squared	0.43		0.43		–		–		–
Pseudo R-squared	–		–		0.45		0.44		0.45
Spatial Pseudo R-squared	–		–		0.22		–		0.40
F-statistic	50.75	*	66.76	*	–		–		–
Log likelihood	−1767.06		−1768.46		–		–		–
Akaike info criterion	3586.11		3576.92		–		–		–
Multicollinearity Condition No	41.80		25.12		–		–		–
DIAGNOSTICS FOR HETE ROSKEDASTICITY
Breusch-Pagan test	182.76	*	166.22	*	–		–		–
Koenker-Bassett test	103.59	*	94.56	*	–		–		–
DIAGNOSTICS FOR SPATIAL DEPENDENCE
Moran’s I (error)	–		6.15	*	–		–		–
Lagrange Multiplier (lag)	–		33.15	*	–		–		–
Robust LM (lag)	–		31.96	*	–		–		–
Lagrange Multiplier (error)	–		4.75	**	–		–		–
Robust LM (error)	–		3.56	***	–		–		–
Anselin-Kelejian Test	–		–		1.09		–		–

Table 3. Fixed effects panel regression models for 2005⁶.

2005 VARIABLES	OLS (White Standard Errors)		OLS (White Standard Errors)		S2SLS (White Standard Errors)		SWLS (HET)		SW2SLS (HET)
PLACE ATTRACTION
RICH_05	0.006		0.015	*	0.010	**	0.009	***	0.011	**
GSIoD_05	−0.523	*	0.340	*	0.476	*	0.460	*	0.473	*
OWN_GRICH_05	0.101	*	0.117	*	0.109	*	0.116	*	0.109	*
OWN_GSIoD_05	−0.403	*	−0.587	*	−0.593	*	−0.646	*	−0.586	*
SPATIAL ACCESSIBILITY
COUNT_FERRY_1000 M	0.187		–		–		–		–
SrtNEAR_BUS_DIS	–		–		–		–		–
SrtNEAR_TRAM_DIS	–		–		–		–		–
SrtNEAR_RAIL_DIS	0.007		–		–		–		–
SrtNEAR_SUBWAY_DIS	−0.013		−0.014	***	0.009		−0.003		0.009
NORM_WALKABILITY_05	−0.015	*	−0.017	*	−0.014	*	−0.016	*	−0.014	*
PEDESTRIANISED_05	0.147	*	0.190	*	0.151	**	0.161	*	0.153	**
PRIME_PITCH_05	0.582	*	0.614	*	0.628	*	0.628	*	0.626	*
USE AND PHYSICAL FEATURES
BUSE_CATEGORY_051	−0.090	***	−0.176	*	−0.203	*	−0.187	*	−0.203	*
CHAIN_05	0.661	*	0.740	*	0.716	*	0.726	*	0.715	*
INV_QUANTUM_05	−0.210		–		–		–		–
LiSC_05	0.003		–		–		–		–
MARKET ACTIVITY
Srt_AS_05	0.197		−0.322	***	−0.420	**	−0.303		−0.427	**
Srt_BCO_05	0.044		−0.630	*	−0.622	*	−0.631	*	−0.621	*
Srt_PSVS_05	−0.050		–		–		–		–
Srt_RES_05	0.382	*	−0.084		−0.049		−0.042		−0.053
Srt_SE_05	−0.486	**	−0.793	**	−0.677	**	−0.705	*	−0.680	*
Srt_SN_05	1.647	*	–		–		–		–
Srt_V_05	0.490	*	−0.032		−0.034		−0.031		−0.039
AVG_CRIME_04	−0.005		–		–		–		–
AVG_INCOME_04	0.011	**	–		–		–		–
SPATIAL LAG/ERROR PARAMETERS
ρWγ	–		–		0.986	*	–		0.990	*
λWε	–		–		–		0.759	*	−0.437	**
REGRESSION DIAGNOSTICS
Number of Observations	1970		1970		1970		1970		1970
R-squared	0.45		0.42		–		–		–
Adjusted R-squared	0.44		0.42		–		–		–
Pseudo R-squared	–		–		0.44		0.42		0.44
Spatial Pseudo R-squared	–		–		0.10		–		0.40
F-statistic	58.15	*	74.72	*	–		–		–
Log likelihood	−2276.81		−2321.63		–		–		–
Akaike info criterion	4609.62		4683.26		–		–		–
Multicollinearity Condition No	90.36		28.55		–		–		–
DIAGNOSTICS FOR HETEROSKEDASTICITY
Breusch-Pagan test	209.15	*	179.93	*	–		–		–
Koenker-Bassett test	125.49	*	113.36	*	–		–		–
DIAGNOSTICS FOR SPATIAL DEPENDENCE
Moran’s I (error)	–		13.641	*	–		–		–
Lagrange Multiplier (lag)	–		65.16	*	–		–		–
Robust LM (lag)	–		26.97	*	–		–		–
Lagrange Multiplier (error)	–		42.85	*	–		–		–
Robust LM (error)	–		4.67	*	–		–		–
Anselin-Kelejian Test	–		–		1.52		–		–

Table 4. Fixed effects panel regression models for 2010⁶.

2010 VARIABLES	OLS (White Standard Errors)		OLS (White Standard Errors)		S2SLS (White Standard Errors)		SWLS (HET)		SW2SLS (HET)
PLACE ATTRACTION
RICH_10	0.006		0.015	*	0.015	*	0.013	*	0.014	*
GSIoD_10	0.107		0.369	*	0.309	*	0.336	*	0.309	*
OWN_RICH_10	0.059	*	0.079	*	0.068	*	0.072	*	0.068	*
OWN_GSIoD_10	−0.235	**	−0.352	*	−0.322	*	−0.366	*	−0.327	*
SPATIAL ACCESSIBILITY
COUNT_FERRY_1000 M	0.091		–		–		–		–
SrtNEAR_BUS_DIS	–		–		–		–		–
SrtNEAR_TRAM_DIS	−0.021	*	–		–		–		–
SrtNEAR_RAIL_DIS	0.002		–		–		–		–
SrtNEAR_SUBWAY_DIS	0.010		–		–		–		–
NORM_WALKABILITY_10	−0.0004	**	−0.0004	**	−0.0004	**	−0.0004	**	−0.0004	**
PEDESTRIANISED_10	0.394	*	0.286	*	0.285	*	0.284	*	0.286	*
PRIME_PITCH_10	0.483	*	0.493	*	0.447	*	0.443	*	0.446	*
USE AND PHYSICAL FEATURES
BUSE_CATEGORY_101	−0.179	*	−0.231	*	−0.249	*	−0.237	*	−0.247	*
CHAIN_10	0.632	*	0.606	*	0.596	*	0.602	*	0.597	*
INV_QUANTUM_10	−0.292	*	−0.266	*	−0.237	*	−0.224	*	−0.233	*
LiSC_10	0.060		0.106	*	0.094	*	0.103	*	0.094	**
MARKET ACTIVITY
Srt_AS_10	−0.081		–		–		–		–
Srt_BCO_10	−0.015		−0.247	*	−0.262	*	−0.259	*	−0.261	*
Srt_PSVS_10	−0.718	*	−0.876	*	−0.857	*	−0.823	*	−0.859	*
Srt_RES_10	0.174	**	−0.143	*	−0.099	***	−0.130	**	−0.103	**
Srt_SE_10	0.043		–		–		–		–
Srt_SN_10	0.852	*	–		–		–		–
Srt_V_10	0.140		–		–		–		–
AVG_CRIME_09/07	0.000	*	–		–		–		–
AVG_INCOME_09/07	−0.014		–		–		–		–
SPATIAL LAG/ERROR PARAMETERS
ρWγ	–		–		0.866	*	–		0.864	*
λWε	–		–		–		1.000	*	−0.054
REGRESSION DIAGNOSTICS
Number of Observations	3892		3892		3892		3892		3892
R-squared	0.40		0.40		–		–		–
Adjusted R-squared	0.39		0.40		–		–		–
Pseudo R-squared	–		–		0.42		0.002		0.42
Spatial Pseudo R-squared	–		–		0.40		–		0.40
F-statistic	94.64	*	146.13	*	–		–		–
Log likelihood	−4471.41		−4450.60		–		–		–
Akaike info criterion	8998.83		8939.19		–		–		–
Multicollinearity Condition No	65.05		24.62		–		–		–
DIAGNOSTICS FOR HETEROSKEDASTICITY
Breusch-Pagan test	260.60	*	203.63	*	–		–		–
Koenker-Bassett test	118.63	*	94.23	*	–		–		–
DIAGNOSTICS FOR SPATIAL DEPENDENCE
Moran’s I (error)	–		17.82	*	–		–		–
Lagrange Multiplier (lag)	–		130.07	*	–		–		–
Robust LM (lag)	–		54.20	*	–		–		–
Lagrange Multiplier (error)	–		96.77	*	–		–		–
Robust LM (error)	–		20.90	*	–		–		–
Anselin-Kelejian Test	–		–		0.05		–		–

Table 5. Fixed effects panel regression models for 2017⁶.

2017 VARIABLES	OLS (White Standard Errors)		OLS (White Standard Errors)		S2SLS (White Standard Errors)		SWLS (HET)		SW2SLS (HET)
PLACE ATTRACTION
RICH_17	0.002		0.004		0.004		0.002		0.003
GSIoD_17	0.074		0.336	*	0.319	*	0.341	*	0.323	*
OWN_RICH_17	0.041	*	0.057	*	0.059	*	0.063	*	0.060	*
OWN_GSIoD_17	−0.364	*	−0.512	*	−0.522	*	−0.562	*	−0.531	*
SPATIAL ACCESSIBILITY
COUNT_FERRY_1000 M	−0.212	*	–		–		–		–
SrtNEAR_BUS_DIS	0.007		0.002		0.004		0.004		0.004
SrtNEAR_TRAM_DIS	−0.051	*	–		–		–		–
SrtNEAR_RAIL_DIS	0.012	*	–		–		–		–
SrtNEAR_SUBWAY_DIS	−0.007		–		–		–		–
NORM_WALKABILITY_17	0.002		−0.001		−0.001		−0.001		−0.001
PEDESTRIANISED_17	0.276	*	0.310	*	0.302	*	0.303	*	0.302	*
PRIME_PITCH_17	0.591	*	0.628	*	0.640	*	0.638	*	0.641	*
USE AND PHYSICAL FEATURES
BUSE_CATEGORY_171	0.076	*	0.089	*	0.089	*	0.089	*	0.089	*
CHAIN_17	0.556	*	0.595	*	0.585	*	0.587	*	0.585	*
INV_QUANTUM_17	−0.137		–		–		–		–
LiSC_17	0.053		0.065		0.073	***	0.071	***	0.073	***
MARKET ACTIVITY
Srt_AS_17	0.000	***	–		–		–		–
Srt_BCO_17	−0.099		−0.135	**	−0.126	***	−0.142	**	−0.129	**
Srt_PSVS_17	−0.379	***	−0.512	*	−0.515	*	−0.510	*	−0.514	*
Srt_RES_17	−0.061		–		–		–		–
Srt_SE_17	−0.268	***	−0.187		−0.135		−0.117		−0.129
Srt_SN_17	0.451	*	–		–		–		–
Srt_V_17	−0.072		–		–		–		–
AVG_CRIME_16/15	0.002	*	–		–		–		–
AVG_INCOME_16/15	1.215	**	–		–		–		–
SPATIAL LAG/ERROR PARAMETERS
ρWγ	–		–		0.551	*	–		0.507	*
λWε	–		–		–		0.491	*	−0.248
REGRESSION DIAGNOSTICS
Number of Observations	3901		3901		3901		3901		3901
R-squared	0.42		0.39		–		–		–
Adjusted R-squared	0.41		0.39		–		–		–
Pseudo R-squared	–		–		0.39		0.39		0.39
Spatial Pseudo R-squared	–		–		0.39		–		0.39
F-statistic	95.45	*	139.93	*	–		–		–
Log likelihood	−4273.25		−4350.10		–		–		–
Akaike info criterion	8606.49		8738.19		–		–		–
Multicollinearity Condition No	110.93		26.41		–		–		–
DIAGNOSTICS FOR HETEROSKEDASTICITY
Breusch-Pagan test	586.77	*	338.67	*	–		–		–
Koenker-Bassett test	149.50	*	98.70	*	–		–		–
DIAGNOSTICS FOR SPATIAL DEPENDENCE
Moran’s I (error)	–		10.73	*	–		–		–
Lagrange Multiplier (lag)	–		14.21	*	–		–		–
Robust LM (lag)	–		0.01		–		–		–
Lagrange Multiplier (error)	–		30.41	*	–		–		–
Robust LM (error)	–		16.20	*	–		–		–
Anselin-Kelejian Test	–		–		0.19		–		–