| |
Note |
|
GROUP
June 2016
R000 |
|
GROUP
June 2015
R000 |
|
| Total investment property classified as held-for-sale |
|
|
|
|
|
|
| Assets |
|
|
1 243 591 |
|
1 235 062 |
|
| Investment property |
2.1 |
|
1 224 090 |
|
1 218 899 |
|
| Building appurtenances and tenant installations |
|
|
6 685 |
|
6 876 |
|
| Trade and other receivables |
|
|
9 471 |
|
6 504 |
|
| Cash and cash equivalents |
|
|
3 345 |
|
2 783 |
|
| Liabilities |
|
|
27 868 |
|
21 567 |
|
| Trade and other payables |
|
|
27 868 |
|
21 567 |
|
|
|
|
|
|
|
|
| Net classified as held-for-sale |
|
|
1 215 723 |
|
1 213 495 |
|
| Movement in assets held-for-sale |
|
|
|
|
|
|
| Investment property, building appurtenances and tenant installations |
|
|
|
|
|
|
| Opening balance |
|
|
1 225 773 |
|
1 738 390 |
|
| Disposal |
|
|
|
|
(768 186) |
|
| Additions (includes cost and fair value adjustments) |
|
|
8 428 |
|
74 345 |
|
| Depreciation |
|
|
(3 428) |
|
(3 588) |
|
| Transfer to held-for-sale |
|
|
|
|
184 812 |
|
| Closing balance |
|
|
1 230 773 |
|
1 225 773 |
|
| Working capital |
|
|
|
|
|
|
| Opening balance |
|
|
(12 278) |
|
(33 154) |
|
| Disposal |
|
|
|
|
6 100 |
|
| Additions |
|
|
(2 772) |
|
14 740 |
|
| Transfer to held-for-sale |
|
|
|
|
36 |
|
| Closing balance |
|
|
(15 050) |
|
(12 278) |
|
| Net classified as held-for-sale |
|
|
1 215 723 |
|
1 213 495 |
|
Non-current assets held-for-sale include Willowbridge, Somerset Value Mart, three standalone office parks and vacant land in Greenstone Park, Johannesburg. Subsequent to year-end, Somerset Value Mart and Glenfield Office Park were sold for R185 million and R180 million respectively.
Although Willowbridge and the remaining standalone office buildings were classified as held-for-sale at 30 June 2015, efforts to dispose of these properties are continuing and Hyprop is confident that they will be sold. Hyprop is actively engaging with potential purchasers. The properties continue to be measured under IAS 40 and all requirements of IFRS 5 have been met. |