This paper examines the role played by valuers in choosing the right viability appraisal technique for an investment appraisal. Structured questionnaire was administered on Twenty one (21) registered and practicing Estate Surveying and Valuation firms in Akure out of which fourteen (14) were retrieved and found good for analysis. The data obtained were analyzed using descriptive statistical tools such as frequency tables and weighted mean score 3 and 4-point likert formats. The result of the analysis revealed that Valuers mostly make use of Payback Period, NPV and IRR, which are deterministic in nature. This is as a result of the valuers basing their appraisals mostly on economic and financial criteria only without fully analyzing the various factors such as the prevailing inflation rate in the economy and the level of risk tolerance of their client. The outcome of a good investment appraisal forms the basis upon which any investment decision is based. A good investment is an offset of a good viability appraisal, and the valuers' role is to give such advice that will maximize the benefit's objective of the investor.

The paper examined the effect of vacancy rate on the rental returns of shopping centres in six major retail areas in Akure. Data on rental values and vacancy rates in 35 shopping centres were collected from 17 estate surveying firms in Akure. The shopping centres had a total number of 1,352 rentable spaces with 1,183 occupied. The data was analysed using Descriptive statistics such as frequency distribution tables and graph, one sample t -statistics and Simple Linear Regression Analysis. The result showed that vacancy in shopping centres are on the increase especially in Oke ijebu axis of Akure thereby causing a decline in the expected returns from the centres. The result further showed that as vacancy rate in shopping centres increases the rent per meter square reduces as owners tends to reduce rent to retain tenants. There is need for shopping centre developers to employ the services of the Estate Surveyors and Valuers to carry out feasibility and viability appraisal of their projects before embarking on them. This gesture will check over supply of centres.