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Adelaide based proptech platform Bricklet has just received a strategic investment from Stockland (8% equity stake) and Mirvac (5.6% equity stake) to help them scale their fractional property investment platform.

Bricklet is targeted towards sophisticated investors and allows them to purchase a “Bricklet” in a property. Unlike other fractional property investment platforms (like BrickX) Bricklet is structured so property investors are registered against the title of the property (have direct ownership) rather than a Unit Trust structure (passive ownership) which BrickX and others use. Another key difference is that Bricklets is geared at sophisticated investors with the price of Bricklets around $30,000 unlike BrickX where the price is more like $70.

Bricklet has launched with 6 apartments in Sydney’s Northern beaches with plans to launch another 150 properties under what is known as an Initial Bricklet Offering (IBO). The platform will also provide a marketplace whereby Bricklets can be traded between property investors.

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