News and Announcements
First $8.9M Fragmented Property Development Sells Out Using Bricklet
- Published March 08, 2020 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
BRICKLET, Australia’s only property fragmentation platform, has successfully facilitated the fragmentation and sale of the first yet-to-be-built property project listed on bricklet.com.au. The fragmentation of this over-55s seven-unit apartment block development, called Roxy Muse, completed sales of 259 bricklets which, along with the developer equity of 21 bricklets, values the project at $8,919,400.
Fragmented property investment is made possible on the BRICKLET platform, by fragmenting land titles into individual, affordable bricklets (fragments). Traditionally, the gains in property development were exclusive to those who had access to the sizeable capital required for building projects.
BRICKLET’s fragmentation of Roxy Muse enables investors to share in the capital gains of developing a property, for a mere $31,855 – the price of each fragment in Roxy Muse. All 259 fragments were bought by sophisticated investors and SMSF trusts, within five weeks of listing on bricklet.com.au. Each bricklet owner will be listed on the property title.
Over 150 properties will be listing on BRICKLET in the coming weeks, currently serving the wholesale investor market. Fuelled by this niche’s enthusiasm for fragmented property, BRICKLET will also be expanding its fragmented investments to retail investors in Australia.
BRICKLET is launching its Series A Funding, following its seed funding backed by Mirvac and Stockland. To scale the platform and capitalise on Australia’s need for affordable property investments.
Bricklet’s Deal Room for the Series A is now open on CRIISP. Click here.
About Bricklet
Fragmentation is the new way to invest in property. A property can be split into ‘bricklets’ and then each bricklet is sold individually. Giving investors the opportunity to own a proportion of the property, at a fraction of the cost.
BRICKLET is the world’s only property exchange, providing a market for tradable fragments of real estate. It provides a full suite of services including listings, trading, clearing, settlement, technical and information services, and other post-trade services.
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