CQUniversity Annual Report - Central Queensland University
CQUniversity Annual Report - Central Queensland University
CQUniversity Annual Report - Central Queensland University
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
32<br />
<strong>Central</strong> <strong>Queensland</strong> <strong>University</strong><br />
and Controlled Entities<br />
Notes to the Financial Statements<br />
for the year ended 31 December 2012<br />
Consolidated<br />
Parent Entity<br />
Notes 2012 2011 2012 2011<br />
$'000 $'000 $'000 $'000<br />
Note 24. Investment properties<br />
At fair value<br />
Opening balance at 1 January 1,650 9,500 1,650 9,500<br />
Change in fair value - 350 - 350<br />
Disposals - (8,200) - (8,200)<br />
Closing balance at 31 December 1,650 1,650 1,650 1,650<br />
(a) Amounts recognised in profit and loss for investment properties<br />
Rental Income 141 712 141 712<br />
Direct operating expenses (rent generating properties) (3) (251) (3) (251)<br />
Total recognised in profit and loss 138 461 138 461<br />
(b) Valuation basis<br />
Investment property was last comprehensively revalued at fair value as at 31 October 2012 by M.D. Sheehan, Registered<br />
Valuer (No. 1011). The valuation was based on publicly available data on recent rentals and sales of similar buildings in<br />
nearby localities. Such valuations were also influenced by details supplied by the <strong>University</strong> in respect of the age, internal<br />
features/design and physical condition of each building.<br />
(c) Leasing arrangements<br />
Investment properties consist of one property that is leased to third parties under individually negotiated lease terms.
Change language