BrickX launches terrace home in Melbourne’s Brunswick West at $99 per brick

Fractional property investing platform BrickX has added a terrace home in Melbourne’s Brunswick West to its portfolio for investors to buy ‘bricks’.

Pre-orders start June 23 at $99 a ‘brick’ for the property at 10 Shamrock Street.

BrickX, which puts properties into an individual trust and split each one into 10,000 units or ‘Bricks’ which investors can then buy, recently launched several properties in Sydney. 

Its previous buy was in Manly. The 4/8 James Street property is a two-bedroom apartment and was offered at an initial 'brick' price of $87.

The company says they were snapped up the same day by investors.

CEO Anthony Millet expects the offering in Melbourne to be popular with investors further, adding to the current Melbourne portfolio of Prahran and Port Melbourne.

“We’re thrilled to provide access to such a stunningly transformed terrace at an affordable entry price of just under $100,” Millet said. 

The three-bedroom, two-bathroom terrace with an undercover carport on Shamrock Street boasts a courtyard along with a private rooftop garden off the master bedroom.

The 169 sqm property's selling price was $1,190,000, according to CoreLogic. It was sold through Nelson Alexander Real Estate Brunswick.

It last traded for $371,750 in 2003.

“With the initial Brick price being $99, BrickX continues to strive to make property investment affordable for all Australians,” said Millet.

Investors earn capital returns and monthly net rental income in proportion to the number of ‘bricks’ they own. Members can choose when to invest and when to exit by offering their ‘bricks’ for sale on its platform. 

CoreLogic head of Research Tim Lawless, who is also an adviser at BrickX, said there is strong demand for property close to the city, university and social precincts. 

Data from the property analytics firm show house prices in Brunswick West have increased by almost 6.6 per cent per year over the past five years.

“Brunswick West has a strong rental market which has contributed to ongoing low vacancy rates and high demand. With convenient tram and train access to the CBD, the area is particularly popular with university students and young families,” he said.

BrickX added three Sydney properties in the last two months — Potts Point, Surry Hills and Darlinghurst. 

This is in addition to properties in Prahran and Port Melbourne in Melbourne and Manly, Bondi Beach, Enmore, Mosman, Annandale and Double Bay in Sydney.

For more details on how to invest, click here.