Carrying value of investment property

Hello,

From the perspective of a lessor of an investment property:

1. Do lease incentives (eg fitout contributions) directly increase the carrying value of the investment property? That is, is the accounting entry
Dr investment property
Cr Payable
And as the lease incentive gets amortised over the life of the lease, does the carrying value of the investment property decrease in line with this?

2. Does capex spend directly increased the value of the investment property?

Thank you.