NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
13 INVESTMENT PROPERTIES, OTHER PROPERTY, PLANT AND EQUIPMENT AND
LEASEHOLD LAND (Continued)
(c)
The Group leases out investment properties under operating leases. The leases typically run for an initial period of one month to eight years, with an option to renew the lease after that date at which time all terms are renegotiated. Certain of the leases include contingent rentals calculated with reference to the revenue of tenants.
All properties held under operating leases that would otherwise meet the definition of investment properties are classified as investment properties.
The Group's total future minimum lease payments under non-cancellable operating leases are receivable as follows:
Within 1 year
After 1 year but within 5 years
After 5 years
122
Hong Kong Ferry (Holdings) Company Limited Annual Report 2017
2017
HK$'000
2016
HK$'000
66,208
61,690
52,318
69,791
9,200
14,159
127,726
145,640