Page 146 - SAR141018_Forterra AR 2013

FORTERRA
ANNUAL REPORT 2013
NOTES TO THE
FINANCIAL STATEMENTS
144
33 COMMITMENTS
Capital commitment
The Group entered into contracts to develop or refurbish certain investment properties. At 31
December 2013, the commitment under those contracts amounted to $49 million (2012: $34
million).
Operating leases
The Group leases out its investment properties. Non-cancellable operating lease rentals are
receivable as follows:
2013 2012
$’000 $’000
Receivable:
– within 1 year 43,747 64,618
– after 1 year but within 5 years 45,610 61,654
– after 5 years 40,153 62,081
129,510 188,353
The Group leases out its investment properties to tenants under lease agreements for periods
ranging from 6 months to 10 years with options granted to certain tenants to renew their leases.
There was no contingent rental income recognised for the year ended 31 December 2013 (2012:
nil).