Growthpoint Interactive Half Year Report 2018

Growthpoint Properties Australia 2018 Half Year Report 40 Notes to the Financial Statements continued 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 half year ended 31 December 2017. Fair value of Industria REIT stapled securities $’000 Opening balance - Purchases 68,129 Sales - Closing balance 74,646 Gain in the net change in fair value of investment in securities 6,517 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 $2.52 as at 31 December 2017. 2.4 Current assets held for sale As at 31 December 2017, there was no property classed as held for sale (June 2017: 1). Details of the value of properties held for sale are shown on the table below: 31-Dec-17 30-Jun-17 $’000 $’000 1231-1241 Sandgate Road, Nundah, QLD - 103,500 - 103,500 2.5 Trade and other assets Determination of fair value The fair value of trade and other assets is estimated as the present value of future cash flows, discounted at the market rate of interest at the reporting date. This fair value is determined for disclosure purposes. Trade and other assets can be analysed as follows: 31-Dec-17 30-Jun-17 $’000 $’000 Rent receivables 1,666 1,335 Prepayments 5,018 4,756 Proceeds from sale of investment properties - 4,800 6,684 10,891 Impaired rent receivables As at 31 December 2017, no rent receivables of the Group were impaired (30 June 2017: nil impairment).