Cromwell Property Group (ASX:CMW) agreed to acquire Australian Unity Property Limited from Australian Unity Limited for AUD 17 million on July 6, 2023. A condition to the acquisition of Australian Unity Property Limited is Australian Unity Diversified Property Fund unitholder approval, and implementation of the merger. The transaction is expected to complete later in the 2024 financial year.

Highbury Partnership Pty Limited acted as Financial advisor and Gilbert and Tobin acted as legal advisor to Cromwell Property Group. Greenhill & Co acted as financial advisor to Australian Unity Property Limited. Baden Furphy, Jason Jordan of Herbert Smith Freehills acted as legal advisor to Australian Unity Diversified Property Fund.