Brickx

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BrickX has been acquired by Thundering Herd, a venture capital and private equity investment firm.

Markus Kahlbetzer's BridgeLane Capital Pty Ltd, which had provided funding for the acquisition of properties, is no longer a shareholder or related party of BrickX, the fractional property investment platform.

The venture capital outfits of National Australia Bank and Westpac have also cashed out of their investment in BrickX, along with Reinventure Group.

Thundering Herd are making plans to expand the current property portfolio across both residential and commercial markets. 

The platform has 19 properties, with its <a href="https://www.urban.com.au/news/wa/94883-brickx-invest-in-first-perth-property" target="_blank">last purchase at Perth</a>, its first in WA, back in November 2018. 

Despite having stalled, the AFR reported BrickX was in the final stages of due diligence for more than 10 properties.

The BrickX acquisition adds to Thundering Herd's portfolio of investments in the property space.

The VC firm is the majority owner of debt syndication platform Lend Collective and the largest secured creditor of fractional property play DomaCom.

The BrickX platform, which was co-founded by Darren Patterson in 2014, will continue to function with no envisaged disruption.   Thundering Herd's recent investments include Lend Collective and GoFetch.

Thundering Herd's 2015 co-founder is the Melbourne based Joe Galvez, having worked for the likes of Deutsche Bank, Merrill Lynch, Morgan Stanley and Macquarie Group.

It is not known what price Thundering Herd paid for the business which saw the two big banks initially backed BrickX in late 2017 and early 2018, when they both took a stake in a $9 million Series A funding round.

BrickX has around 70,000 people signed up to the platform with just the 10,000 active investors.

Each property is divided into 10,000 bricks and the value fluctuates based on the market sentiment at the time. Investors receive rental income based on their share.

Allunga Advisory helped with the search for the new capital partner.

<h2>Recently listed properties:</h2>

[smartcode_project:default project_id=29358]

[smartcode_project:default project_id=22699]

[smartcode_project:default project_id=3298]
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jchancellor-FAypfDUnLy

BrickX sold to Thundering Herd by BridgeLane-led venture capital syndicate

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Fractional property investment platform BrickX have continued their 2018 spending.
They've settled on a <a href="https://www.realestate.com.au/sold/property-house-sa-kingswood-128923126" target="_blank">1920s home in Kingswood</a>, a southern suburb of the Adelaide CBD near Mitcham Square.
It's the second property they've bought in South Australia having spent $825,100 on a <a href="https://www.urban.com.au/news/74209-brickx-looks-south-to-adelaide-for-next-property" target="_blank">St Peters home mid last year.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/BrickX1.jpg" alt="">
The new $567,500 purchase has two bedrooms and one updated bathroom.
The character features of the 1920s have been retained, including high ceilings, polished timber floorboards and an open fireplace.
It has an outdoor entertaining area with verandah and pergola on its 301 square metre Arnold Street parcel.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/brick3.jpg" alt="">
Bricks are being offered at $47 per brick.
A tenant has been secured at $400 a week, which reflects an annual net rental yield of just under 1.6%.
The home is set to bring in a total of $7,429 a year.
BrickX advise the historical suburb growth of Kingswood is 7.5% per annum.
Earlier this year BrickX bought a <a href="https://www.urban.com.au/news/88298-brickx-buy-first-regional-property-in-ballarat" target="_blank">property in Soldiers Hill</a>, their first in Central Victoria, quickly followed by <a href="https://www.urban.com.au/news/89652-brickx-buy-again-near-ballarat-in-central-victoria" target="_blank">another in Ballarat</a> nearby, as well as an apartment in <a href="https://www.urban.com.au/news/82252-brickx-buys-its-15th-fractional-ownership-property-in-darlinghurst" target="_blank">Darlinghurst. </a>
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jrobinson-rf4aSBido9

BrickX secure second Adelaide property

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BrickX's monthly rental distributions for September have been deposited into brick holders' wallets based on 30 September ownership. 
All rental distributions paid were in line with forecasts.
"This marks an exciting time for BRICKX Investors, as this is the first distribution paid since our big launch, when we made the platform available for all Australians," Anthony Millet, the BrickX chief said.
Details on each property and the distributions can be seen below
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Annandale (ANN01)
Distribution: $1,200 or $0.12 per Brick
Brick Price: $100.00*
Investors: 456*
<a href="https://brickx.us8.list-manage2.com/track/click?u=c85d85c62b9a47be6dc88e065&amp;id=07145ba6ea&amp;e=be9a375222">Invest in ANN01</a>
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Mosman (MOS01)
Distribution: $3,200 or $0.32 per Brick
Brick Price: $141.00*
Investors: 286*
<a href="https://brickx.us8.list-manage.com/track/click?u=c85d85c62b9a47be6dc88e065&amp;id=eee5c7d675&amp;e=be9a375222">Invest in MOS01</a>
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Prahran (PAR01)
Distribution: $2,400 or $0.24 per Brick
Brick Price: $120.00*
Investors: 145*
<a href="https://brickx.us8.list-manage1.com/track/click?u=c85d85c62b9a47be6dc88e065&amp;id=c16ba22a57&amp;e=be9a375222">Invest in PAR01</a>
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Enmore (ENM01)
Distribution: $1,700 or $0.17 per Brick
Brick Price: $68.00*
Investors: 578*
<a href="https://brickx.us8.list-manage1.com/track/click?u=c85d85c62b9a47be6dc88e065&amp;id=1c3c3d9b18&amp;e=be9a375222">Invest in ENM01</a>
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Anthony Millet, the BrickX chief executive, said they were working towards having 100 properties. 
A waiting list has been commenced for potential investors in the Double Bay investment trust.
*Brick Prices and Investors as at October 5, 2016.
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j.ballantyne1990-6AQqhLzZaK

BRICKX pays monthly rental distributions to property investors

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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 <a href="https://www.brickx.com/properties" target="_blank">two bedroom apartment on Ramsgate Avenue</a> and are offering Bricks at $96 each. Investor numbers are now near 190.
<img src="/images/2016/11/03/Screen%20Shot%202016-11-03%20at%2012.00.03%20PM.png" alt="">
The semi sized, garden-style apartment with library is set in a block of just four.
<img src="/images/2016/11/03/Screen%20Shot%202016-11-03%20at%2011.59.52%20AM.png" alt="">
It was <a href="https://www.realestate.com.au/sold/property-apartment-nsw-bondi+beach-123708830" target="_blank">sold last month</a> through Raine &amp; 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.
<img src="/images/2016/11/03/Screen%20Shot%202016-11-03%20at%2011.59.36%20AM.png" alt="">
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. 
<img src="/images/2016/11/10/700_brickxbondi.jpg" alt="" width="525" height="319">
“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. 
<img src="/images/2016/11/03/Screen%20Shot%202016-11-03%20at%2011.58.55%20AM.png" alt="">
“In this case, investors can access the Bondi property market for just $96.” 
The company already has properties in Enmore, Mosman, Annandale, Prahran and <a href="/expert-insights/buying/58078-brickx-purchase-double-bay-apartment?utm_source=Property+Observer+List&amp;utm_campaign=3aec47a001-FHB_September_24_2016&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-3aec47a001-245616761" target="_blank">Double Bay which was bought last month</a>. 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. 
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Bondi Beach investment opportunity for less than $100 through BRICKX

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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 <a href="https://www.realestate.com.au/sold/property-house-vic-port+melbourne-124001166" target="_blank">picturesque property</a> 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 <a href="https://www.brickx.com/properties" target="_blank">very popular with investors</a> 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. 
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BrickX buys fractional Port Melbourne house offering

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Investment platform BrickX, which allows investors to acquire a slice of property through its ‘bricks’, has seen 13,393 bricks change hands in the last three months.
The platform was officially launched in September 2016 and has acquired properties in Bondi Beach, Double Bay, Enmore, Annandale and Mosman in Sydney and at Port Melbourne and Prahran in Melbourne. The combined value of all its properties is about $8,685,000.
Its investor count is at 2,845, according to its website, up around 100 since last week.
BrickX offers relevant data about a property to prospective investors to help them make a decision.
For example, a two-bedroom unit in Double Bay the company bought last year for $1,395,000 has 32 percent debt ($445,000) and an equity of $950,000. The initial brick price was $95, because each property is divided into 10,000 ‘bricks’.
The unit is currently rented for $1,000 per week and BrickX says the estimated rental yield is 2.1% pa. It paid a distribution of $0.15 per brick for February into investors’ digital wallets. So far, there are 1,305 investors in the property.
The five-year growth average for Double Bay is 12.06 percent, according to CoreLogic, and the estimated return on investment is 19.81 percent.
Investors can earn rental income from their property in proportion to their investment, or ‘bricks’ they own. They can also make capital gains by selling bricks owned by them. 
The current price for the Double Bay property's 'brick' was $97, as per the website.
Prices of bricks currently range from $68 per brick for its one-bedroom property in Enmore to $158 per brick for a two-bedroom house in Melbourne. 
The most expensive property in the portfolio is a two-bedroom house at Port Melbourne, which BrickX bought for $1.57 million.
The estimated net rental yield for these properties, as shown on its website, ranges from 1.48 percent to 2.93 percent.
BrickX charges a 1.75% transaction fee when you buy or sell your Bricks. The company says on its website that it has no other charges such as for funds under management, performance, contribution, service, or withdrawal fees. There are of course, monthly expenses associated with a property that owners of bricks have to factor in, just like any other investment property.
Its advisory panel includes CoreLogic’s head of Research, Tim Lawless and Nerida Conisbee, chief economist at realestate.com.au.  
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prateek24-ezbwHMbNAk

BrickX says property portfolio valued at $8.68 million 

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Fractional property investing platform BrickX has completed six months since its official launch, and has managed more than 15,000 signups and 2,850 investors in this period, according to CEO Anthony Millet.
With seven properties under its belt so far in Sydney and Melbourne, the firm is now looking at opportunities further in Adelaide and Tasmania.
Its current portfolio of properties is <a href="https://www.urban.com.au/news/67185-brickx-close-to-securing-2-750-investors-as-smsfs-take-up-fractional-property-investment" target="_blank">valued at more than $8,68 million</a>.
Property prices grew 18.4 percent in Sydney while gaining 13.1 percent in Melbourne over the past twelve months, according to CoreLogic - median price index, to Feb 17.
The letter also seeks to answer the questions around liquidity, which was raised in a recent survey the company ran. 
“The current median time for Brick Holders to sell any Bricks they have put up for sale is 1.8 hours (monthly average measured Oct 16 - Feb 17),” Millet says.
It said they will explain clearly the ongoing median times in an update.
There has been market chatter that this pace cannot continue indefinitely, and the CEO letter says the company will “be very selective around the types of properties and suburbs we choose for BRICKX”.  
The company will be hosting a webinar with realestate.com.au chief economist and BRICKX advisor, Nerida Conisbee on March 28 about how the residential market has performed so far in 2017 and what her predictions are for the rest of the year. 
On the panel of advisors for BrickX are CoreLogic’s director of research Tim Lawless and realestate.com.au’s Nerida Conisbee.
For more information on the webinar, <a href="https://www.propertyobserver.com.au/https://attendee.gotowebinar.com/register/7156001386243593731" target="_blank">click here</a>.
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BrickX looks to spread investment wings to Adelaide and Tassie

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BRICKX, the innovative online platform that makes it easy to invest through fractional ownership, has seven properties for potential investment.
To mark its sixth month since launch to small investors, any Bricks brought today - March 16 - will not incur purchase transaction fees.
"This offer ends at midnight tonight (AEDT)," the chief executive, Anthony Millet said.
Investors have potential to receive both capital returns and net rental income. Its tenant for the Bondi property commenced late last year paying $900 per week, as forecasted.
<a href="https://www.brickx.com/" target="_blank">BRICKX</a> has a simple fee structure typically charging a 1.75 percent transaction fee when you buy or sell bricks.
There are no funds under management, performance, contribution, service, or withdrawal fees.
There are monthly expenses associated with each property, detailed on each property's cashflow monthly distributions.
There are some 2,746 BRICKX investors who can currently trade on the exchange.
Some 11,604 Bricks have been transacted in the last 90 days.
The seven properties have an $8,685,000 value.
Since launched in September with four properties on the BRICKX Platform, the venture won Fintech Startup of the Year 2016 at the Startcon awards.
Millet was cited by the Australian Financial Review recently as saying that it took three years to get the approval from the Australian Securities and Investments Commission for the product to ensure it was suitable for retail investors.
The company currently owns properties in Bondi Beach, Double Bay, Enmore, Annandale and Mosman in Sydney and at Port Melbourne and Prahran in Melbourne. 
The estimated net rental yield for these properties, as shown on its website, range from 1.48 percent to 2.88 percent. 
Prices of bricks range from $69 per brick for its one-bedroom property in Enmore to $158 per brick for a two-bedroom house in Melbourne. 
The property investment platform that allows investors to acquire small interests in residential properties buys a property and divides it into 10,000 ‘bricks’, which are then sold to investors. 
The platform has drawn interest from self managed super funds. Chief executive Anthony Millet said SMSFs typically invest six-and-a-half times more than other retail investors through the site.
The average number of properties in which SMSF investors have an interest is 2.7.
For more information, <a href="https://www.brickx.com" target="_blank">click here</a>.
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BRICKX close to securing 2,750 investors as SMSFs take up fractional property investment 

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Fractional property investing platform BrickX has added another property to its choices for investors, and says it is their cheapest yet offering with a ‘brick’ priced at $57.
The property on offer is a one-bedroom apartment at 12/84-90 McLachlan Avenue, Darlinghurst, on Rushcutter’s Bay border.
BrickX paid $840,000 for the apartment in an off-market deal.
It had been an investment for the previous owner, who had paid $475,000 in 2011.
In 2016 it had been a $675 a week rental, with a more recent $700 a week rental in January. A $700 a week rental would reflect a 4.33 percent yield for BrickX.
BrickX CEO Anthony Millet said it’s the lowest ‘Brick’ price yet. 
“We’re thrilled to offer investors a share in this inner-Sydney property at such a low price point,” Millet said. 
“With the Brick price starting at just $57, BRICKX continues to strive to make property investment affordable for all Australians”. 
BrickX buys properties and divides them into 10,000 units or “Bricks”. Investors may then earn capital returns and monthly net rental income in proportion to the number of Bricks owned. 
The platform allows members to choose when to invest and when to exit their investments by offering their ‘Bricks’ for sale on the platform. 
The one bedroom, renovated apartment on McLachlan Avenue is part of a small boutique block and is already tenanted at $700 per week with an estimated net rental yield of 2.13 percent per annum.
“Darlinghurst is renowned for its eclectic, vibrant mix of cafes, bars and restaurants and is within walking distance to the CBD with easy access to public transport, making it a very desirable suburb,” Millet added. 
Tim Lawless, head of Research at RP Data CoreLogic and an advisor to BrickX, said Darlinghurst has been a very consistent performer over the last decade. 
“CoreLogic figures show unit prices have risen over the last 5 years (to end of March 2017), on average, by 9.22 percent per annum,” Lawless said. 
“Rental yields tend to be higher than the broader Sydney average as well, with the typical Darlinghurst unit currently attracting a 4.2 percent gross yield.” 
It owns properties in Bondi Beach, Enmore, Mosman, Annandale and Double Bay in Sydney, along with Prahran and Port Melbourne, in Melbourne, each with a different ‘brick’ price.
The platform was officially launched in September 2016 and has <a href="https://www.urban.com.au/news/67499-brickx-says-property-portfolio-valued-at-8-68-million" target="_blank">m</a>ore than 3,300 investors now, with a property portfolio of around $9.5 million.
Earlier this month, BrickX won the CANSTAR 2017 Innovation Excellence Award. 
BrickX has enabled the option of pre-ordering ‘Bricks’ in the Darlinghurst apartment, and investors can go to www.BRICKX.com and read the PDS to consider if BRICKX is right for you, it said. 
It has opened the pre-order for only eight days to secure the initial ‘Brick’ price of $57.
"With a demonstrated track record of growth and rental return, great proximity to the Sydney CBD, and an ongoing shortage of unit supply in the area, this acquisition fits nicely within the BRICKX investment mandate,” added Lawless. 
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Investing platform BrickX offers its newest property in Darlinghurst for just $57 per 'brick'

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Anthony Millet, chief executive officer of BRICKX, says when it comes to investing in real estate we need to shift our mindsets.
"Property investment is possible without ever handing over the keys to the front door," he says.
It is an acknowledgement that the cost of housing within Sydney has well and truly moved away from the simple cost of land and building fundamentals, with a shortage of supply and unprecedented demand driving the market.  
With the Federal Budget due next month, housing affordability has emerged as a red hot issue.
"I don’t envy the Treasurer because it’s a complex issue with no quick fix," Millet told me.
"Changes to negative gearing, a superannuation plan for first home buyers, unlocking Government land for housing, a review of foreign property investment, public and social housing grants and the list of potential solutions goes on."
Millet is behind the innovative private enterprise scheme where owning a fractional share in a house or apartment is possible without the need to own the entire property. It has been taken up over the past few months by some 3300 plus participants.
BrickX buys properties in blue chip suburbs and divides the acquisition price into 10,000 shares, or ‘bricks,’ available to the public currently priced between $100 to $150.
In the past, fractional ownership has been a method where unrelated parties share in ownership of a high-value tangible asset, usually a jet, yacht and sometimes piece of resort real estate in paradise. 
BrickX offers premium residential suburb access with seven properties so far in Melbourne and Sydney, including Bondi Beach, Annandale and Mosman. There are plans to own in all capital cities, then its is likely they will consider regional centres.
Fifty percent of its customers are under the age of 35 and around three quarters had not invested in or owned real estate before. It has accordingly been described as the Uber of property investing, the newest way to keep up with the rising property market.
BrickX investors earn rental income from their proportion of the investment. They can also make capital gains by selling their bricks. 
The online platform, launched last September, offers a valuable insight into the world of property, and no doubt its pluses and minuses, and ups and downs. 
Those $100 bricks allow young savers an option other than a savings account while making progress towards to ultimate goal of home ownership.
Millet is keen on the debate moving on from housing affordability to housing accessibility in part because he says the so-called solving affordability solutions often actually equates to seeing house prices coming down. 
"With 65 percent of this nation’s wealth tied up in residential property, to the majority, it’s not in their interests for house prices to fall." 
 This article first appeared in the Daily Telegraph.
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