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GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2018(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)2018 20175. Investment property $ $Balance at 1 January 3,497 3,831Depreciation for the year (184) (334)Balance at 31 December 3,313 3,497Investment property at cost 13,220 13,220Accumulated depreciation (9,907) (9,723)Net carrying amount 3,313 3,497Amounts included in the Consolidated Statement of Comprehensive Income for the year:2018 2017 $ $Rental income 1,668 1,675Direct operating expenses 216 234The Group has no restrictions on the realisability of its investment properties and no contractual obligations to purchase, construct or develop investment properties or for repairs, maintenance and enhancements.The Group has 55% of space available for rental at its property on 22-24 St. Vincent Street, Port of Spain (2017: 55%), which has been classifed as Investment property.FINANCIAL REPORT 77