Annual report 2019

26. Investment properties

As at 31 December 2019, the Group had an investment property in the form of an undeveloped land with an area of 46.85 ha in Wrocław Marszowice.

Fair value of the property in the amount of PLN 56,577 thousand was estimated on the basis of an appraisal report prepared on 3 November 2019 by an external independent property appraiser for the amount of PLN 62,863 thousand and taking into account additional risks associated with the investment property in the valuation.

12 months ended
12 months ended
Opening balance 55,868 54,435
Valuation update 709 1,433
Closing balance, including 56,577 55,868
acquisition price 12,246 12,246
revaluation to fair value 44,331 43,622

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