Bricklet review: Bricklet, an Adelaide-based proptech platform, has recently received a strategic investment from Stockland (8 percent equity stake) and Mirvac (5.6 percent equity stake) to help it scale its fractional property investment platform. Bricklet is aimed at sophisticated investors, allowing them to buy a “Bricklet” in a property. Unlike other fractional property investment platforms (such as BrickX), Bricklet is structured so that property investors are registered against the title of the property (have direct ownership), as opposed to a Unit Trust structure (passive ownership) used by BrickX and others.
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Another significant difference is that Bricklets is aimed at sophisticated investors, with a price tag of around $30,000, as opposed to BrickX, which has a price tag of around $70.
Bricklet began with six apartments on Sydney’s Northern Beaches, with plans to expand to 150 properties through an Initial Bricklet Offering (IBO). The platform will also include a marketplace where property investors can trade Bricklets.