Annual report 2008 - Altarea Cogedim

n Change in accumulated depreciation on other PPE
(in € thousand) Land Buildings Technical
installations
Other non–current
assets
Gross
At 1 January 2007 0 (189) (10) (1,421) (1,620)
Allowance (2,314) (57) (25) (923) (3,320)
Reversal 0 – 76 2,176 2,251
Reclassification – – – 76 76
Changes in scope of consolidation – (37) (394) (3,330) (3,761)
At 31 decemBEr 2007 (2,314) (284) (354) (3,423) (6,374)
Allowance – (102) (55) (1,991) (2,148)
Reversal 660 8 5 440 1,113
Reclassification – – 16 (16) –
Changes in scope of consolidation – – (13) – (13)
At 31 decemBEr 2008 (1,654) (377) (401) (4,990) (7,422)
n Change in other PPE, net
(in € thousand) Land Buildings Technical
installations
Other non–current
assets
Gross
At 1 January 2007 0 373 61 1,099 1,532
At 31 December 2007 61 397 70 7,820 8,349
At 31 December 2008 721 295 345 9,333 10,694
The principal acquisitions of other property, plant and equipment relate to interior work at the Avenue Delcassé property and
furniture for the Aubette tourist holiday residence (Strasbourg).
13.4. Investment property
n Change in investment property
Investment
property
At 01 January 2007 1,300,033
Investments 138,836
Later expenditures capitalised 6,799
Transfers from other categories 218,924
Change in fair value 411,928
Change in scope of consolidation (525)
At 31 December 2007 2,075,997
Investments 37,158
Later expenditures capitalised 6,665
Disposals / Decrease (23,845)
Transfers to other categories (1,387)
Transfers from other categories 213,428
Change in fair value (86,141)
At 31 December 2008 2,221,875
• In 2008
At 31 December 2008, the investment property consisted
primarily of in-town or edge-of-town shopping centres, as
well as shopping malls in France, Italy and Spain.
The investments carried out during 2008 included the
acquisition of new investment properties at Pinerolo
(Piedmont) and 40% of the undivided ownership units of a
building in Gennevilliers, increasing the Group’s ownership
of this asset to 100%.
Transfers from other categories relate to investments completed
(and previously recognised as Assets under development) in
relation to buildings that entered operation during the financial
year: Guipavas (Brest), Porte Jeune (Mulhouse), Aubette
(Strasbourg), Gare de l’Est (Paris) and Pinerolo (Piedmont).
Disposals and decreases primarily reflect the following
events:
– The sale of the shopping mall on boulevard de Vaugirard
in Paris on 22 July 2008,
– The sale of the Coulaines retail asset on 22 September 2008,
– The sale of four ground-floor properties (out of the five
held) in Troyes on 22 December 2008.
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