Australian Unity Office Fund (ASX:AOF) Releases Preliminary Report
Financial Results
Australian Unity Office Fund reported total revenues of $5.466 million for the half-year ended December 31, 2024, a 49.58% decrease from $10.841 million in the prior period. The fund incurred a net loss of $26.832 million, slightly higher than the $26.392 million loss in the previous period.
Distributions and Property Sales
The fund declared distributions of 0.40 cents per unit paid on October 25, 2024, and 9.00 cents per unit on December 6, 2024. Australian Unity Office Fund completed the sale of 64 Northbourne Avenue, Canberra, for $21.2 million and has contracted the sale of 468 St Kilda Road, Melbourne, for $41.5 million, expected to settle by March 2025.
Future Plans
Following the approval by unitholders on December 17, 2024, the fund is proceeding with the disposal of its main undertakings and plans to delist from ASX. The Responsible Entity expects to return aggregate proceeds from property sales to unitholders at between $1.11 to $1.14 per unit.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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