BrickX buys fractional Port Melbourne house offering

BrickX buys fractional Port Melbourne house offering
BrickX buys fractional Port Melbourne house offering

BRICKX has added a freestanding in Port Melbourne to its fractional ownership investment portfolio.

Equity in the house can be bought for $157.

BRICKX CEO Anthony Millet said BRICKX was popular amongst those who "feel frustrated at being locked out of the housing market including aspiring first time buyers who are using BRICKX to track the housing market with their deposit savings as well as investors keen to expand their existing property portfolio in a more affordable, accessible way.”

Millet said it was a picturesque property on one of Port Melbourne’s most prestigious streets.

The two bedroom, two bathroom house on Esplanade East is five kilometres from the CBD.

"We expect the rental demand for this property to be strong, and in the current Melbourne housing market, there have been few opportunities for investors to be able to get investment exposure to such a popular Melbourne suburb,” Mr Millet added.

“Port Melbourne provides a cosmopolitan lifestyle close to cafes, restaurants and bars along with the beach, light rail and access to the CBD.

The $1,455,000 purchase joins properties already in the portfolio in Prahran, Bondi Beach, Enmore, Mosman, Annandale and Double Bay.

It last traded at $587,500 in 2006.

Millet believes the newly acquired Port Melbourne house will be very popular with investors having had a strong capital growth of 10.85% over the last five years.

The house, which has a classic block-fronted look, and been recently renovated, sold at recent Marshall White auction.

Pre-Order will be open from December 14, with settlements from 9th February 9 next year. 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

Port Melbourne Brickx

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