Block viewers can crowd fund their favourite apartment
Viewers of The Block now have the opportunity to join a crowdfunding campaign to buy one of the five apartments in the upcoming Port Melbourne series.
The 12th season of The Block starts shortly on Channel 9 with five couples.
This time viewers can be actively involved as an investor for $2,500 through crowdfunder DomaCom as the DomaCom CEO Arthur Naoumidis is a fan of Australia's longest running reality show.
“I have always been a great fan of The Block, and allowing viewers the opportunity to actually invest in one of the apartments will bring another dimension to this acclaimed program,” he said.
“Viewers will be able to use DomaCom’s platform as an investment vehicle in one or more of the apartments, effectively vastly widening the net of those viewers who can be involved at this level.
"In the past, the apartments were auctioned at the completion of the renovation, so to be involved was clearly beyond the resources of the vast majority of viewers.
"But now they can have an investment stake that doesn’t bet the farm.”
Viewers can choose the apartment or their favourite Blockheads to support, go online and open an account with DomaCom, transferring the amount they wish to invest.
They then place a 'bid' on their chosen apartment.
DomaCom will issue a formal documentation and prepare to bid at the televised auction should sufficient money be raised.
The shows latest project is a heritage-listed building in Port Melbourne, that was acquired from property developer Harry Stamoulis for around $5 million.
If successful and the apartment is purchased, DomaCom will appoint a property manager to ensure the apartment is tenanted and the investors will each receive their share of the rent and future capital growth.
Investors can also sell their share at any time using DomaCom's online platform.
