Bondi Beach investment opportunity for less than $100 through BRICKX
The new investment platform BRICKX is offering property investment at the iconic Bondi Beach for as little as $100.
They have paid $1.35 million for the two bedroom apartment on Ramsgate Avenue and are offering Bricks at $96 each. Investor numbers are now near 190.
The semi sized, garden-style apartment with library is set in a block of just four.
It was sold last month through Raine & Horne agents Dion Markovics and Christophe Serrao.
The estimated net rental yield is 1.59 percent and there were 38 investors on its initial morning offering.
BRICKX chief executive officer Anthony Millet said they are pleased to have secured the property.
“Coming into summer, we expect the rental demand for this property to be strong, and in the current Sydney housing market, there have been few opportunities for investors to be able to get investment exposure to such an iconic suburb,” he said.
“Bondi is synonymous with the Australian way of life and we couldn’t be happier to open this investment opportunity to all Australians.
“BRICKX continues to break down the traditional barriers that exist when it comes to investing in residential real estate by offering fractions of a property, known as “Bricks”, rather than purchasing entire houses or apartments.
“In this case, investors can access the Bondi property market for just $96.”
The company already has properties in Enmore, Mosman, Annandale, Prahran and Double Bay which was bought last month. There are currently 586 investors in the Double Bay apartment.
Millet believes the newly acquired two bedroom Bondi Beach apartment will be very popular with investors.
“Bondi Beach has had strong capital growth over the last five years (CoreLogic) and like the rest of our properties, has been selected on a results-driven mandate,” Mr Millet added.
“BRICKX may suit anyone who feels frustrated at being locked out of the housing market including younger people saving for their first home or investors keen to expand their existing portfolio in a more affordable, accessible and diversified way.”
BRICKX divides individual properties into 10,000 bricks, allowing each individual to invest as much or as little as they please.
Publicly launched in September, it offers investors the opportunity to earn capital returns and monthly net rental income in proportion to the number of Bricks owned.
