Growthpoint Interactive Half Year Report 2019

Notes to the Financial Statements (cont.) 2.4 Current assets held for sale As at 31 December 2018, there are two properties classified as held for sale (June 2018: 2). Details of the value of properties held for sale are shown in the table below: 31-Dec-18 30-Jun-18 $’000 $’000 Quad 2, 6 Parkview Drive, Sydney Olympic Park, NSW (i) – 32,500 Quad 3, 102 Bennelong Parkway, Sydney Olympic Park, NSW (i) – 31,750 7 Laffer Drive, Bedford Park, SA (ii) 20,188 – 89 Cambridge Park Drive, Cambridge, TAS (ii) 25,000 – Closing balance 45,188 64,250 (i) The sales campaign for these 2 properties was discontinued and they have been restored to Investment properties and are measured at fair value as at 31 December 2018. (ii) Sales terms for these 2 properties were conditionally agreed between the parties on 17 December 2018. These properties are measured at the conditionally agreed sale prices; representing their fair value as at 31 December 2018 and reclassified from Investment properties. 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-18 30-Jun-18 $’000 $’000 Rent receivables 712 538 Distribution receivables 1,259 1,244 Prepayments 5,857 4,801 7,828 6,583 Impaired rent receivables As at 31 December 2018, no rent receivables of the Group were impaired (30 June 2018: nil impairment). 36 Growthpoint Properties Australia | 2019 Half Year Report