Australian Unity Office Fund (AOF) H1 2026 earnings summary

Executive summary

• Unitholders approved the disposal of the main undertaking and delisting from the ASX on 17 December 2024, with the fund proceeding to sell its remaining property and return proceeds to unitholders.

• The fund is in the process of winding up, with only one property, 150 Charlotte Street, Brisbane, remaining as of 31 December 2025.

• Net Tangible Assets (NTA) as of 31 December 2025 were $69.8 million, or $0.42 per unit.

• Discussions are ongoing with a preferred party for a potential sale of the remaining property at $40 million.

Financial highlights

• Statutory loss for the half-year ended 31 December 2025 was $3.2 million, a significant improvement from a $26.8 million loss in the prior year.

• NTA reflects an updated independent valuation for Charlotte Street at $45 million, $25.2 million in cash, and net liabilities of $0.4 million.

• Rental income for the half-year was $788,000, down from $5.7 million year-over-year.

• Funds From Operations (FFO) was negative $332,000, compared to positive $945,000 in the prior year.

• Distributions declared for the half-year totaled $15.5 million.

Outlook and guidance

• The fund is marketing its sole remaining property and is in discussions for a potential sale at $40 million, with no certainty of completion.

• No distribution guidance is provided due to the absence of a sale contract and ongoing uncertainty.

• Upon agreement of sale terms, the fund will seek unitholder approval to proceed with delisting and winding up.