BrickX is an online platform that allows investors to buy and sell units or ‘Bricks’ in specific properties, eliminating the need to purchase investment properties outright.
CEO of BrickX, Darren Patterson said the platform gives SMSFs greater control over their exposure to residential property.
“I believe that SMSF trustees by their very nature have an appetite for diversity and appreciate freedom around investment choices,” he said.
“The BrickX platform will break down traditional property investment barriers and will help facilitate greater state-to-state investments.
“BrickX has created a new asset class that we believe will satisfy many of the investment desires of SMSF trustees and their advisers across the country.”
There are currently 20,000 bricks being traded from two residential properties leased and located in Sydney. The company is actively assessing new properties to add to the platform from various attractive investment locations across Australia.
The first phase of the BrickX platform is open to wholesale investors, both individual and company. However, the company intends to make BrickX available to retail investors in the near future.
The properties available through the platform are standardised, high-quality residential properties in prime locations. Dividends derived from the properties’ yields are distributed to investors on a monthly basis.