112 / 148
Notes to the consolidated
financial statements
continued
for the year ended 30 June 2017
110
Hyprop Investments Limited
Integrated annual report and consolidated financial statements
2017
3.
Building appurtenances and tenant installations
June 2017
R000
June 2016
R000
3.1
Cost
Building appurtenances
196 768
153 362
Tenant installations
54 212
46 554
250 980
199 916
3.2
Accumulated depreciation
Building appurtenances
70 577
47 695
Tenant installations
31 873
26 122
102 450
73 816
3.3
Net carrying value
Building appurtenances
126 191
105 667
Tenant installations
22 339
20 433
148 530
126 100
3.4
Movement for the year
Net carrying value – 1 July
126 100
77 300
Capital expenditure
57 064
67 612
Acquired through business combination
5 327
Foreign currency translation movement
(498)
409
Disposals
(171)
Write-off of assets
(10)
Classified as held-for-sale
(659)
190
Depreciation
(33 296)
(24 738)
Net carrying value
148 530
126 100
4.
Subsidiaries
Investment in subsidiaries
Details of the group’s subsidiaries at the end of the year are as follows:
Proportion of ownership
interest and voting power held
by the group
Name of subsidiary
Principal activity
Place of incorporation
and operation
June 2017
June 2016
Hyprop Investments (Mauritius) Limited
(Hyprop Mauritius)
Investing in indirect development or
income producing properties in
sub-Saharan Africa (excluding SA)
Mauritius
100%
100%
African Land Investments Limited
(African Land)
Dormant
South Africa
100%
100%
Hyprop Investments Employee
Incentive Scheme Proprietary Limited
(Hyprop Investments Employee
Incentive Scheme)
To hedge the obligation of the company
to deliver Hyprop shares to employees,
arising from allocations to employees in
terms of the Hyprop Employee Incentive
Scheme
South Africa
100%
100%
Hyprop Foundation NPC (Hyprop
Foundation)
Company formed to further sustainability,
enterprise development, socio-economic
development and the corporate social
initiatives of Hyprop
South Africa
100%
100%
Hyprop Ikeja Mall Limited (Hyprop Ikeja)
(1)
Owns the shares in Gruppo Investments
Nigeria Limited
Mauritius
100%
100%
Gruppo Investments Nigeria Limited
(Gruppo)
(2)
Owns Ikeja City Mall in Lagos, Nigeria
Nigeria
75%
75%
(1)
Wholly owned subsidiary of Hyprop Mauritius
(2)
Hyprop Ikeja owns 75% of the shares in Gruppo