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ANNUAL REPORT 2024 115GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2024(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)2024 20235. Investment property $ $Balance at 1 January 1,247 1,383Depreciation for the year (136) (136)Balance at 31 December 1,111 1,247Investment property at cost 6,365 6,365Accumulated depreciation (5,254) (5,118)Net carrying amount 1,111 1,247Amounts included in the Consolidated Statement of Comprehensive Loss for the year:2024 2023$ $Rental income 1,679 1,821Direct operating expenses 110 152The 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 24% of space available for rental at its property on 22-24 St. Vincent Street, Port of Spain, which has been classified as an Investment property. There was no change in the allocation of space over the prior year.