Australian Unity Office Fund (ASX:AOF) is proposing to wind up and dispose of assets, including the sale of its property in Melbourne, according to a Thursday filing with the Australian bourse.

The sale of its Melbourne property, which requires unit holder approval, is expected to generate net proceeds of AU$41.8 million.

The net proceeds of all asset sales will be returned to unit holders, followed by delisting from the Australian Securities Exchange and, ultimately winding up, the filing said.

As per the proposal, the Australian Unity Office Fund plans to distribute net proceeds from asset sales to unit holders, including those from the sale of 2-10 Valentine Avenue, Parramatta, and 150 Charlotte Street, Brisbane, amounting to between AU$1.20 and AU$1.23 per unit.

The Fund plans to apply to the ASX to delist its shares upon settlement of the last asset sale and completing the return of sale proceeds.

Once approved, the Australian Unity Office Fund is expected to be delisted by April 2025 and expects to wind up by June 2025.

Australian Unity Office Fund does not intend to declare quarterly distributions going forward.