Subject and purpose of work: Based on community-wide charges that shopping malls
discriminate against small business tenants, this paper seeks: firstly to identify the principal
determinants of shopping mall rentals, and secondly to understand if there exists a statistically
significant dispersion in rentals against MSMEs. Materials and methods: Relative Importance Index and SPSS (statistical tests) were used to
analyze the survey-based data which was acquired from eleven shopping malls in Lusaka. Results: The MSME tenants pay on average $20.32/m2 more t han anchor tenants and $19.12/m2
more than chain stores, ironically on account of capital limitations. MSMEs also face an additional
risk during sudden economic shocks due to untenable lease provisions and poor negotiating
influence. Conclusions: The study concludes by acknowledging that the MSME sector is covertly vitiated
by the imposition of high rental premiums. It recommends that shopping malls should have
an affirmative simpler letting policy. Furthermore, a shopping mall association should-be
commissioned to exclusively safeguard the interests of MSMEs.
PEER REVIEW INFORMATION
Article has been screened for originality
REFERENCES(67)
1.
Akinjare, O., Ayedun, C., Sade, O., Ibhahulu, O.K., Orlu-Makele, T.O., Bamisaye, M.O., Akinjare, V. (2018). Rent determinants for retail shopping malls in Southern Nigeria. International Journal of Mechanical Engineering and Technology, 9, 506-514.
Alan (1999). Unfair Trading in Shopping Mall’s Retail Space Leasing. Productivity Commission Inquiry. The market for retail tenancy leases in Australia. Submission No. 2. http//www.aphref.aph.gov.au_house_committee_isr_fairtrad_report_chap2.
Allard, T., Barry, J.B., Chebat, J-C. (2009). When income matters: customers evaluation of shopping malls’ hedonic and utilitarian orientations. Journal of Retailing and Consumer Services, 16(1), 40–49. https://doi.org/10.1016/j.jret....
Anon (2020). Building Chain stores in compounds destroys local and family business-Inonge Wina. Lusaka Times. 15th January 2020. Available at: https://www.lusakatimes.com/20... (Accessed: 15.01.2020).
Bello (2012). The determinants of shopping center rent in Akure, Nigeria. Paper presented at the FIG working week in Rome, Italy. 6th to 10th May 2012.
Benjamin J.D., Boyle G.W., Sirmans C.F. (1990). Retail Leasing: The Determinants of Shopping Center Rents. Journal of the American Real Estate and Urban Economics Association, 18(3), 302-12. https://doi.org/10.1111/1540-6....
Carswell, A. (2008). Rent raises shut shops. The Daily Telegraph (Sydney). 07th November 2008. Available at: https://www.pressreader.com/au... (Accessed: 15.01.2020).
Carter, C.C., Vandell, K.D. (2005). Store Location in Shopping Centers: Theory and Estimates. Journal of Real Estate Research, 27(3), 237-266. https://doi.org/10.1080/108355....
Catton, D.J. (2017). Should Retail Lease Legislation In Australia Be Simplified? Queensland University of Technology. Unpublished Doctoral Thesis. Available at: https://core.ac.uk/reader/8315.... (Accessed: 15.01.2020).
Chin, L., Hui, F.S. (2010). Percentage Leases In Singapore’s Shopping Centres. 16th Pacific Rim Real Estate Society Conference 2010 Wellington, New Zealand.
Chishimba, A. (2014). Probe high shop rentals- NAPTAZ. Zambia Daily Mail. 17th December 2014. Available at: https://blogs.lse.ac.uk/africa... development/(Accessed: 15.01.2020).
Chishimba, A. (2016). NAPSA, NABTAZ agree on 5-year leases. Zambia Daily Mail. 19th April 2016. Available at: http://www.daily-mail.co.zm/na... (Accessed: 15.01.2020).
Colwell, P.F., Munneke, H.J. (1998). Percentage Leases and the Advantages of Regional Malls. Journal of Real Estate Research, 15(3), 239-252. https://doi.org/10.1080/108355....
Conway, P., Shah, M.K. (2010). Zambia Business Survey: Who’s productive in Zambia’s private sector? Evidence from the Zambia Business Survey. Available at: http://documents1.worldbank.or... (Accessed: 10.07.2020).
Craig, B.R., Jackson, W.E., Thomson, J.B. (2007). Small firm finance credit rationing and the impact of SBA-Guaranteed lending on local economic growth. Journal of Small Business Management, 45(1), 116-132. https://doi.org/10.1111/j.1540....
Crosby, N., Hughes, C., Murdoch, S. (2006). Flexible property leasing and the small business tenant. Journal of Property Research, 23(2), 163-188. https://doi.org/10.1080/095999....
Davoodi, T., Dagli, U.U. (2019). Exploring the Determinants of Residential Satisfaction in Historic Urban Quarters: Towards Sustainability of the Walled City Famagusta, North Cyprus. Sustainability, 11(22), 6261. https://doi.org/10.3390/su1122....
EC [European Commission] (2003). The New MSME Definition User Guide and Model Decleration, Enterprise and Industry Publication. Available at: http://ec.europa.eu/enterprise... (Accessed: 15.01.2020).
Francesca, N., Ross, S. (2012). Key Performance Indicators. 10 metrics for guiding and measuring store success. Available at: https://corp.vendcdn.com/legac... (Accessed: 15.01.2020).
Gavilan, D., Manzano, R., Martinez, G. (2018). Gender Identity, Consumption and Price Discrimination. Revista Latina de Comunicacion Social, 73, 385-400. http://dx.doi.org/10.4185/RLCS....
Government of the Republic of Zambia (2008). The Micro, Small and Medium Enterprise Development Policy. Ministry of Commerce, Trade and Industry, Zambia.
Haber, H. (2009). Malls Look Toward Smaller Retailers. The Retailers’ Daily Newspaper. 04th August 2009. Available at: https://pmcwwd.files.wordpress... (Accessed: 15.01.2020).
Harmse, C.P.J. (2012). Service Quality In A Landlord-Small Business Relationship In Shopping Centres. Faculty of Economic And Management Sciences, University Of Pretoria.
Holmes, M. (2006). Lack of knowledge hastens small business failures. Real Business, 18 October. Available at: http://www.realbusiness.co.za/... (Accessed: 15.01.2020).
Hossen, M.M., Kang, S., Kim, J. (2015). Construction schedule delay risk assessment by using combined AHP-RII methodology for an international NPP project. Nuclear Engineering and Technology, 47(3), 362–79. https://doi.org/10.1016/j.net.....
Ibrahim, M.F., Galven, T.W.R. (2007). New age retail tenants: a new phenomenon. Journal of Retail and Leisure Property, 6(3), 239-262. https://doi.org/10.1057/palgra....
Israel, G.D. (1992). Determining Sample Size. University of Florida Cooperative Extension Service, Institute of Food and Agriculture Sciences, EDIS, Florida.
Kambone, M.S., Phiri, W. (2017). The Impact of Small and Medium Scale Enterprises in Achieving Sustainable Development Goals in Zambia. The International Journal of Multi-Disciplinary Research. Available at: http://www.multiresearch.net/c....
Karytinos, A., Vlachostergiou, V. (2001). Estimating Commercial Property rentals in the Greek Market using Multiple regression analysis (No. eres2001_196). European Real Estate Society (ERES).
Kassem, M. A., Khoiry, M.A., Hamzah, N. (2020). Using Relative Importance Index Method for Developing Risk Map in Oil and Gas Construction Projects. Jurnal Kejuruteraan, 32(3), 441-453. https://doi.org/10.17576/jkukm....
Ke, Q., Wang, W. (2016). The factors that determine shopping centre rent in Wuhan, China. Journal of Property Investment and Finance, 34(2), 172-185. https://doi.org/10.1108/JPIF-0....
Keskin, H., Senturk, C., Sungur, O., Kiris, H.M. (2010). The Importance of SMEs in Developing Economies. 2nd International Symposium on Sustainable Development, Sarajevo. Available at: https://core.ac.uk/download/pd... (Accessed: 08.07.2021).
Lotz, O., Marais, L. (2007). Manufacturing enterprises and marketing planning in a mining area of the North West Province, South Africa: lessons for local business support centres. Developing Southern Africa, 24(5), 693-706. https://doi.org/10.1080/037683....
Miller, D.R. (2005). New Regional Imaginaries in Post- Apartheid Southern Africa: Retail Workers at a Shopping Mall in Zambia. Journal of Southern African Studies, 31(1), 117-145. https://doi.org/10.1080/030570....
Miller, D., Nel, E., Hampwaye, G. (2008). Malls in Zambia: Racialized retail expansion and South African foreign investors in Zambia. African Sociological Review, 12(1), 35-54. https://doi.org/10.4314/asr.v1....
Monden, A. (2017). Marketing Strategy of Rent and Space Allocation for Dominant Retailer in Shopping Center. Journal of Logistics Management, 6(2), 35-40. https://doi.org/10.5923/j.logi....
Mubita, A, Mulonda, M, Libati, M, Mwale, N., Vincent, K. (2017). Urban Informality and Small Scale Enterprise (SME) Development in Zambia: An Exploration of Theory and Practice. Journal of Behavioural Economics, Finance, Entrepreneurship, Accounting and Transport, 5(1), 19-29. https://doi.org/10.12691/jbe-5....
Ndebele, O. (2017). Tenant mix contributes to retail success. Bizcommunity. 6th February 2017. Available at: www.bizcommunity.com (Accessed: 15.01.2020).
Pashigan, B.P., Gould, E.D. (1998). Internalizing Externalities: The Pricing of Space in Shopping Malls. Journal of Law and Economics, 41(1), 115-142. https://doi.org/10.1086/467386.
Phiri, E. (2018). High rentals at shopping malls worrying. Zambia Daily Mail. 27th March 2018. http://www.dailymail.co.zm/hig... (Accessed: 15.01.2020).
Radford, L. (ed) (2017). Why Zambia’s Mall Mania poses serious problems for the Country’s development. LSE Blog. 09th August 2017. Available at: https://blogs.lse.ac.uk/africa... (Accessed: 15.01.2020).
Roberts, J., Merrilees, B., Herington, C., Miller, D. (2010). Building retail tenant trust: neighbourhood versus regional shopping centres. International Journal of Retail and Distribution Management, 38(8), 597-612. https://doi.org/10.1108/095905....
Sirmans, C.F., Guidry, K.A. (1993). The Determinants of Shopping Center Rents. Journal of Real Estate Research, 8(1), 107-115. https://doi.org/10.1080/108355....
Tay, R., Lau, C., Leung, M. (1999). The Determination of Rent in Shopping Centers: Some Evidence from Hong Kong. Journal of Real Estate Literature, 7(2), 183-196. https://doi.org/10.1080/108355....
Wickramanayake, W.S., Weerakoon, K.G.P.K. (2014). Model for Determining Rental Values of Commercial Properties: Case Study in Boralesgamuwa Urban Council Area. Sri Lankan Journal of Real Estate, 7, 58-69.
Zhang, S., van Duijn, M., van der Vlist, A. (2020). Tenant Mix and Retail Rents in High Street Shopping Districts. Journal of Real Estate Finance and Economics. https://doi.org/10.1007/s11146....
We process personal data collected when visiting the website. The function of obtaining information about users and their behavior is carried out by voluntarily entered information in forms and saving cookies in end devices. Data, including cookies, are used to provide services, improve the user experience and to analyze the traffic in accordance with the Privacy policy. Data are also collected and processed by Google Analytics tool (more).
You can change cookies settings in your browser. Restricted use of cookies in the browser configuration may affect some functionalities of the website.