Bricklet, a platform for fractional property investment, has secured a strategic investment from Stockland and Mirvac to support the expansion of its platform. Stockland has acquired an 8% equity stake in Bricklet, while Mirvac has acquired a 5.6% equity stake. This investment is expected to aid in the growth of Bricklet’s platform for fractional property investment.
Adelaide-based proptech firm Bricklet has secured a strategic investment from Stockland (8% equity stake) and Mirvac (5.6% equity stake) to expand its fractional property investment platform. Bricklet’s platform targets sophisticated investors who can purchase a “Bricklet” in a property. Unlike other fractional property investment platforms such as BrickX, Bricklet’s structure enables property investors to be registered against the title of the property and have direct ownership instead of a Unit Trust structure that offers passive ownership. Another key difference is that Bricklets are geared towards sophisticated investors, with prices around $30,000 compared to BrickX, which has prices closer to $70.
Bricklet has launched with six apartments in Sydney’s Northern Beaches and plans to introduce another 150 properties through its Initial Bricklet Offering (IBO). In addition, the platform will provide a marketplace where Bricklets can be traded among property investors.
