Notes to the Group financial statements

10 Investment property

  2009
£m		 2008
£m
Cost    
At start of period 285 294
Additions 3 17
Transfer from / (to) property, plant and equipment 6 (26)
At end of period 294 285

Accumulated depreciation		    
At start of period 46 53
Charge for the period 6 7
Transfer from / (to) property, plant and equipment – (14)
At end of period 52 46

Net book amount at end of period		 242 239

Included in other operating income is £19m (2008: £20m) of rental income generated from investment properties.

The fair value of investment properties at the end of the period was £259m (2008: £328m). This valuation has been determined by the Directors based on market comparable information being rent and market rental yield. This reduction in the fair value is due to an increase in market rental yield driven by the deteriorating market conditions.

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