10 Result on property sales

The result on property sales is made up as follows:

 

2016

2015

Result on property sales of investment property

14

14

Total

14

14

The total result of € 14 million (2015: € 14 million) is related to individual unit sales.

As indicated in the accounting policies, the results on the sale of individual units is based upon the book value which is derived from a specific allocation of the last determined property value before the sale. The sales price (excluding sales expenses) of all units sold is approximately 2% higher than the average vacant value of the complex (of which the sold units are part of) as per the latest external valuation.