THIESSEN MAPPING OF SPATIAL FEATURES INFLUENCE ON COMMERCIAL REAL ESTATE INVESTMENT IN IKEJA, LAGOS STATE

Purpose: This study uses Thiessen polygons to examine the spatial influence of key spatial features on commercial real estate investment viability in Ikeja, Lagos. Methodology: Data were obtained from 141 estate surveying and valuation firms and 143 appraised commercial properties across seven commercial operational sectors of Ikeja. Spatial factors were identified and ranked through weighted mean score analysis and their interrelationships were examined through Kendall’s tau-b correlation analysis. Thiessen polygon maps were generated in ArcGIS 10.2 for five spatial features; bus stations, Ikeja Mall, Murtala Muhammad International Airport, Alausa Secretariat, and Ikeja Government Reserved Area (GRA). Findings: The results show that closeness to building line, proximity to major roads, and proximity to bus stations are the three most influential spatial determinants of commercial real estate investment viability in the study area. Kendall’s tau-b analysis revealed a strong and significant correlation between proximity to bus stations and proximity to major roads (τ = .712, p < .05), confirming spatial collinearity that informed the selection of representative variables for Thiessen polygon mapping. The Thiessen analysis of 22 bus stations generated polygons of varying spatial influence extents, with coefficients of influence, which was also found for other spatial features identified in the study. Research Limitations/Implication: The geographical scope of this study is limited to Ikeja, Lagos, and different spatial features might be influential in other parts of Nigeria. The contribution to knowledge is that this study established the methodical advancement of quantifying spatial differences in real estate investment viability appraisal. Practical Implication: It is recommended that stakeholders like Estate Surveyors and Valuers should quantitatively incorporate weights of spatial features in commercial real estate investment viability appraisal in Lagos, Nigeria Originality: This study showed that spatial features exert a mappable, structured and quantifiable spatial influence on the viability of commercial real estate investment in the study area.