Looks like I'm not the only one having a sniff. Old mate Nick Bolton appears to be kicking the tyres.

Nick Bolton’s new target with Keybridge Capital is Australian Unity Office Property Fund.pdf

The best part of the article is this though:

Finally some action. The sale of the second smallest asset in the portfolio at a 7% discount to March 2023 book value. On the face of it, this is a good outcome, although I daresay this was the closest to book value that any asset in the portfolio will achieve

The sale represents just under 19% of AOF's market cap and I hope that some of the proceeds will be returned to unitholders at some stage.

The announcement is pretty vague, with the only other point worth noting being that the fund has apparently dipped into a debt facility to fund capex on it's Parramatta St or Charlotte Street Property. This was to be expected, however the amount the ale proceeds that will be held in cash would be good to know prior to the release of the half year results.

I daresay this will be as good as it gets for sales relative to book value. My hope is that some more sales flow quickly post Dec 23 write downs of somewhere around 20-30%.

Thesis intact.