Australian Unity Office Fund (ASX:AOF) entered into a binding conditional contract to sell its Melbourne property, expected to generate net proceeds of AU$41.5 million, according to a Monday filing with the Australian bourse.

The settlement of the sale, which requires unit holder approval, is expected to occur by March 2025, the filing said.

An extraordinary general meeting for unit holders to approve the fund's proposal to wind up and dispose of its assets will be held Tuesday, the filing added.

Australian Unity Office Fund's shares gained over 1% in recent Monday trade.

Price (AUD): $1.06, Change: $+0.01, Percent Change: +1.14%