Looking to get on the Property Ladder?
The Bricklet marketplace allows buying and selling of property “fragments” that cost a fraction of the cost of a whole property. The wait is over!
— So how does it work?
Property titles are fragmented into smaller pieces we call “bricklets” and each “bricklet” is registered with the lands title office …. Simple! It’s like buying a whole property, just smaller pieces.
For example, with a $400,000 apartment, the title of the property is broken up into 20 ‘bricklets’, which sell for $20,000 each. You could purchase a diverse portfolio of bricklets across Australia for less than the price of one individual property.
Backed by some of the biggest names in the business
Bricklet may be a new and innovative property platform but it has the backing of some of the biggest and most established names
in the property industry including Mirvac, Stockland REA and more
Our bricklet investors and their experience
BRICKLET is a software platform that enables and supports the purchase and sale of bricklets. A bricklet is a small proportion of the property that an owner can acquire via the BRICKLET Platform as a tenant in common interest in the Property. Each bricklet owner has independent part ownership of the whole property.
A Simple Example
A $1M property is fragmented into 40 bricklets, each valued at $25k. Each bricklet owner is registered on title and owns 1/40th of the property.
Simply, it’s all the owners of the property on title together with independent ownership supported by the BRICKLET platform, allowing any owner to sell their part (bricklet) independently of each other.
A property manager is appointed from the BRICKLET Certified Panel of Approved Licensed Property Managers. They will manage the property for all the bricklet owners in the property and deal with the day to day business of the property.
BRICKLET charges you a 6% fee when buying a bricklet. The fee includes all costs associated with the purchase, such as stamp duty, legal fees, and registration costs with land titles office.
You simply login to your BRICKLET account and select the bricklet you want to sell and make it available for sale on the platform. This makes the selected bricklet visible and available for purchase by all existing BRICKLET account holders. You can also appoint an agent to assist you with the market appraisal and sale of the bricklet.
When selling your bricklet you are charged 1% of the selling price. This covers the conveyancing costs associated with the transfer of ownership on the land title.
No, there are no ongoing fees charged by the BRICKLET platform.
BRICKLET does not conduct formal valuations of bricklets on the platform. BRICKLET does provide a service for approved property research firms to publish price estimates. Bricklet owners are also able to request independent valuations at any time on their own accord. They can also obtain market appraisals from agents to assist them in determining the current market value for their bricklets.
Yes, you can purchase a bricklet with any legal entity that can own property in Australia. This includes you personally, an SMSF, a trust or company.
Yes. There are lenders that provide finance to assist you in purchasing a bricklet. Properties on the BRICKLET platform are unencumbered, meaning there is no mortgage against the property. This secures the underlying integrity of the property for all bricklet owners.
Yes, there are lenders that provide finance to assist you in purchasing bricklets.
When you purchase a bricklet in a property, you get access to the communications portal allowing conversations and decisions to be made between bricklet owners in that property. You can choose to be actively involved in the property or not.
You open a BRICKLET account, validate your identification, deposit funds and you are ready to buy your bricklets.
Yes, and there are a selection of approved conveyancers for you to choose from when you purchase a bricklet. The fees buying and selling fees cover all the costs associated with the conveyance of a bricklet.
All the property managers on the BRICKLET Certified Panel are required to have facilities in place to cover expenses relating to the property that will be covered by rental income when it is received.
All the property managers on the BRICKLET Certified Panel are required to have facilities in place to cover expenses relating to the property that cannot be covered by rental income. They will fund those expenses and recoup the costs from future rental income.
The Federal Government and State Governments all offer different incentives to assist first homebuyers. These incentives are impacted differently in each State when buying a bricklet. We recommend researching your state policies to assess how purchasing a bricklet will impact your FHOG.