Characteristics of an asset  LO3 Mr Anderson owned a large house on a sizeable piece of land in Brisbane. His ancestors had been some of the first settlers in the area and the property had been in the family since around 1889. Mr Anderson was 92 years old and had become incapable of taking care of the large property. He wanted to move into a retirement village and so sold his property to the MedSea Group, which was an association of doctors. The doctors wanted to use the house for their medical practice as it was centrally situated, had many rooms and had an ‘old‐world’ atmosphere that would make patients feel comfortable. The house was surrounded by a large group of trees that had been planted by the Anderson family over the years. The trees covered a large portion of the land. MedSea did not want to make substantial alterations to the house as it was already suitable for a doctors’ surgery. Only minor alterations to the inside of the house and some maintenance to the exterior were required. However, MedSea wanted to divide the land and sell the portion adjacent to the house. This portion was currently covered in trees. The property sold would be very suitable for up‐market apartment blocks. It was a condition of the sale of the property to MedSea that while Mr Anderson remained alive the trees on the property could not be cut down, as it would have caused him great distress. This clause in the contract would restrict the building of the apartment blocks. However, this restriction would not be enforceable on subsequent buyers of the property if MedSea wanted to sell the property in the future. A further issue affecting the building of the apartment blocks was that across one corner of the block there was a gas pipeline that was a part of the city infrastructure for the supply of gas to Brisbane residents. Required Outline any provisions in AASB 13/IFRS 13 that relate to consideration of restrictions on the measurement of fair values of assets. Describe how the restrictions would affect the measurement of the fair value of the property by MedSea.