Page 38 - GMT and GMT Bond Issuer Annual Report 2017 v2

NOTES TO THE
1. INVESTMENTPROPERTY(CONTINUED) 1.8 Land
FINANCIAL
$ million
Valuation 2017 2016
Acquisitions / Net Transfers in expenditure
Disposals / Transfers out
(14.8) -
(3.0) -
(5.6) (6.0)
(29.4)
Fair value Valuation movement 2017
(21.5) 132.0
(0.6) 6.3 JLL (1.2) 13.4 CBRE (0.3) 0.4 CBRE (1.2) 2.6 CBRE
Net land area sqm
Valuer
STATEMENTS
Highbrook Business Park, East Tamaki M20 Business Park, Wiri
Savill Link, Otahuhu
The Gate Industry Park, Penrose Glassworks, Christchurch
Greenlane Office, Auckland & Show Place, Christchurch
Total land
158.1 - 10.2 6.1 - 0.8 15.1 1.5 1.0 0.5 - 0.2 8.1 - 1.3
25.4 - 2.1
213.3 1.5 15.6
Colliers 291,314 18,770 44,806 2,592 13,660
continued
For the year ended 31 March 2017
(1.5) 20.0
(26.3) 174.7
Fair value Valuation movement 2016
0.2 158.1 (0.4) 6.1 0.1 15.1 (0.7) 0.5 (2.0) 8.1
(6.0) 25.4
(8.8) 213.3
Colliers 16,841
Included within net expenditure is $11.4 million of capitalised borrowing costs (2016: $17.1 million).
387,983
Net land area sqm
Valuation 2016 2015
Acquisitions / Transfers in
Net Disposals / expenditure Transfers out
13.6 (24.3) 1.0 (5.1) 1.9 (6.5) 0.6 (1.3) 1.6 -
2.3 -
21.0 (37.2)
Valuer
$ million
Highbrook Business Park, East Tamaki M20 Business Park, Wiri
Savill Link, Otahuhu
The Gate Industry Park, Penrose Glassworks, Christchurch
Greenlane Office, Auckland & Show Place, Christchurch
Total land
168.6 - 10.6 - 16.6 3.0
1.9 - 8.5 -
29.1 -
235.3 3.0
Savills 349,600 CBRE 18,770 JLL 49,666 Colliers 5,110 CBRE 38,290
CBRE 37,112
498,548
ACCOUNTING POLICIES
Land is recorded initially at cost, including related transaction costs. After initial recording, land is carried at fair value. Land is independently valued at least annually, with any changes in valuation recognised in Pro t or Loss.
GOODMAN PROPERTY TRUST ANNUAL REPORT 2017 FINANCIAL STATEMENTS
36 NOTES TO THE FINANCIAL STATEMENTS