change in the land value/property value is different to change in the intangible value of the licence which was where the impairment has been (38mil last half and 144 mil last year). Although I certainly don’t recall them increasing the value of the PPE and can’t find anything in note 13 or 14 of the annual report.
Reits constantly update the value of PPE.
Have a look at the non current assets ‘intangibles’ vs ppe.
The only change to intangible value is through exchange differences.
Ann: Change in substantial holding from AIC, page-58
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