NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) for the year ended 31 December 2022 3. Investment property Group 2022 2021 R’m R’m Opening net book amount 371 460 Additions 2 2 Revaluation deficit (33) (31) Disposals (13) – Transfer to Assets held for sale – (60) Net carrying value at end of year 327 371 Investment properties were valued using the discounted cash flow of future income stream method. Investment property is carried at fair value and is classified as level 3 in terms of the IFRS 13 hierarchy. Refer to note 38.5 for further information. Amounts recognised in profit or loss Rental income generated by the group during 2022 was R44.7 million (2021: R51.0 million) and was included in Other income. Group 2022 2021 R'm R'm Income-generating properties 45 51 Vacant properties 0 0 45 51 128 Notes to the Consolidated Financial Statements
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