Investment property is property (land or a building — or part of a building — or both) held (by the owner or by the lessee under a finance lease) to earn rentals or for capital appreciation or both, rather than for:
(a) use in the production or supply of goods or services or for administrative purposes; or
(b) sale in the ordinary course of business.
The following are examples of investment property:
(a) land held for long-term capital appreciation rather than for short-term sale in the ordinary course of business;
(b) land held for a currently undetermined future use. (If an entity has not determined that it will use the land as owner-occupied property or for short-term sale in the ordinary course of business, the land is regarded as held for capital appreciation;)
(c) a building owned by the entity (or held by the entity under a finance lease) and leased out under one or more operating leases;
(d) a building that is vacant but is held to be leased out under one or more operating leases.