Growthpoint Interactive Annual Report 2018

2.3 Investment in securities Determination of fair value Investment in securities contains a financial asset designated at fair value through profit or loss at inception. The fair value of investment in securities is the price that would be received to sell this asset in an orderly transaction between market participants at the measurement date. This fair value is based on the last traded market price from the Australian Securities Exchange (ASX) of the relating security at reporting date. The following table represents the fair value movement in investment in securities for the year ended 30 June 2018. Fair value of Industria REIT stapled securities $’000 Opening balance - Purchases 68,129 Sales - Closing balance 78,497 Gain in the net change in fair value of investment in securities 10,368 An off-market purchase of 29,621,555 Industria REIT (IDR) stapled securities was completed in July 2017. The last traded market price of an IDR stapled security on the ASX was $2.65 as at 30 June 2018. Fair value hierarchy The fair value of investments in securities has been classified as Level 1 in the fair value hierarchy based on quoted prices in an active market. 2.4 Non-current assets held for sale Accounting policy Non-current assets that are expected to be recovered primarily through sale rather than through continuing use are classified as held for sale. Immediately before classification as held for sale, the assets are re-measured in accordance with the Group’s accounting policies. Thereafter the assets are measured at the lower of their carrying amount and fair value with the exception of investment property which continues to be measured in accordance with accounting policy note 2.2. As at 30 June 2018, there were two properties classed as held for sale (2017: 1) and their value is shown on the table below: 2018 2017 $’000 $’000 1231-1241 Sandgate Road, Nundah, QLD - 103,500 Quad 2, 6 Parkview Drive, Sydney Olympic Park, NSW 32,500 - Quad 3, 102 Bennelong Parkway, Sydney Olympic Park, NSW 31,750 - Total 64,250 103,500 Growthpoint Properties Australia 2018 Annual Report 71 Financial Report Portfolio Review Financial Management Business Overview Governance Additional Information