Real estate platform eyes SMSFs
The BrickX online real estate trading platform has now been opened up to SMSF investors, providing them with a new way to invest in residential property in their SMSF.
BrickX works by allowing investors to buy individual interests in specific properties on the platform rather than buying them outright.
Platform chief executive Darren Patterson said he expects it to be an attractive channel for SMSFs looking to gain exposure to the Australian real estate market.
“The BrickX platform will break down traditional property investment barriers and will help facilitate greater state-to-state investments,” said Mr Patterson.
SMSF trustees, he said, have an “appetite for diversity and appreciate freedom around investment choices”.
According to BrickX, the properties available through the platform are standardised high-quality residential properties in prime locations, with dividends derived from the properties’ yields distributed to investors on a monthly basis.
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.
