... of land and buildings.'(Johnson, Davies & Shapiro, 2000). Rental values are made by comparison; therefore if one shop has been rented for £30,000 per annum a similar shop on the same street would expect to let, on the same circumstances, for £30,000 per annum. The valuator has to take into account of differences such as location, accessibility, facilities, provided and the size of a property. In comparing size of property the unit is considered eg hectares, acres for land, square metres for industrial and commercial properties. However, the most usual unit of comparison is the square foot. Retailers presume that specific parts of their shops produce more business than others and although merchandising can bolster business over the general area of the shop it is realised that the front of the shop attracts more business and is more valuable than the back of the shop. By dividing the shop into ...

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