Australian Unity Office Fund (AOF) H2 2025 earnings summary

Executive summary

• Unitholders approved the disposal of the main undertaking and delisting from the ASX on 17 December 2024, initiating the wind-up process.

• All properties except 150 Charlotte Street, Brisbane, were sold and proceeds distributed as special distributions.

• The sale of 150 Charlotte Street failed to settle due to purchaser default; the $4.8 million deposit was retained.

Financial highlights

• Statutory loss for FY25 was $35.6 million, improved from a $61.4 million loss in FY24, mainly due to a $30.9 million net fair value decrement on investment properties.

• Net tangible assets per unit fell to $0.44 from $1.39 year-over-year.

• Rental income dropped to $8.4 million from $27.2 million year-over-year as assets were sold.

• Funds from Operations (FFO) was $1.1 million, down from $16.8 million in FY24.

• Total distributions for the year were 73.4 cents per unit, including three special distributions.

Outlook and guidance

• The sole remaining asset, 150 Charlotte Street, is being re-marketed for sale after contract termination.

• No distribution guidance is provided due to uncertainty around the sale proceeds of the remaining property.

• Upon completion of the final sale, net proceeds will be returned to unitholders and the fund will be delisted and wound up.