Structural Attributes and Prices of Warehouses in Uyo Urban, Akwa Ibom State, Nigeria

Abstract

Warehouses have now taken on a greater significance in the development of the economy of any nation. The aim of this study was to evaluate the effects of structural attributes on prices of warehouses in Uyo Urban, Akwa Ibom State. In order to attain the stated aim, the following objectives were set; to assess the structural attributes of warehouses in the study area; to examine the average prices of sampled warehouses across the study area and to establish the relationship between the structural attributes and prices of warehouses in the study area. The research employed the survey design. The independent variables were the structural attributes measured using room size, parking space and state of repairs while the dependent variable was measured using the price of ware houses. Both descriptive and inferential statistics were employed in the analysis of the data, with the help of the SPSS and Microsoft Excel software. The research revealed the prices of 48 selected warehouses in the study area and low prices were noticed in properties with poor structural attributes and vice versa. The study revealed a 99.75% significant relationship between the dependent and the independent variables, with a Durbin-Watson statistic of 1.979 and F-ratio of 5908.123. The study concluded that there was a statistically significant relationship between structural attributes and prices of warehouses in Uyo Urban, Akwa Ibom State. However, the study recommended that investors in industrial properties including warehouses should put structural attributes into consideration as poor structural attributes were noticed to bring about poor returns in prices.