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GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2019(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)2019 20185. Investment property $ $Balance at 1 January 3,313 3,497Reclassification to property, plant, equipment %u2013 cost (2,158) %u2013Accumulated depreciation on amounts reclassified 1,503 %u2013Transfers from WIP 894 %u2013Depreciation for the year (283) (184)Balance at 31 December 3,269 3,313Investment property at cost 11,956 13,220Accumulated depreciation (8,687) (9,907)Net carrying amount 3,269 3,313Amounts included in the Consolidated Statement of Comprehensive Income for the year:2019 2018Rental income 1,980 1,668Direct operating expenses 184 216The 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 46% of space available for rental at its property on 22-24 St. Vincent Street, Port of Spain (2018: 55%), which has been classified as Investment property. During the year, the Group reduced space available for rent at its property on 22-24 St. Vincent Street, Port of Spain by 6,155 square feet.84 GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2019