Don't put too much emphasis on yield... that is only a short...

Don't put too much emphasis on yield... that is only a short term benefit anyway.
AOF have been able to sell of assets fairly successfully in 2022, and early 2023 (now on pause).

I'd suggest that trying to renovate Parramatta and the Bris office to a higher grade could be the right thing to do.
As empty buildings aren't worth squat in todays market. Parra has massive vacancy (don't know off the top of my head, but would be >15% I think).
So it needs to be A+ grade to be in the running. Even if they are looking to sell - makes sense to rennovate it first.

The bris office is also B-grade, but the longer term fundamentals for Bris are OK at the moment (net absorption), vs. Syd/Mel, which have more stock. Not as good as Perth but OK. So some capex makes sense to make it attractive, as it will empty very soon.

Share price 0.90 vs. NTA $1.91, but the difference to other REITs (all smashed up in office) is AOF is debt free.... so they have no risk of cap raising, they can be patient at this point.

But I don't want to give the impression that I am that bullish on AOF either. Management have let way too many tenants go - which is why they are in this position with so many vacancies. Though there smaller assets (Beenleigh, Canberra) look OK, St Kilda Rd is ~3.8 year WALE, and might still fall a bit in value.