Brickowner restructures secondary market offering
Brickowner has restructured its secondary market in order to offer more dynamic and tax-efficient products.
The property investment platform’s secondary market offering will be offline while the products are restructured.
In an emailed update to investors, Brickowner said feedback suggested the secondary market would be more attractive if shares could be sold at a gain or a discount on the original investment price, and that investors wanted tax-efficient products alongside the firm’s existing investment opportunities.
Read more: Brickowner increases minimum investment
“This last point has always been an ambition of ours and something we’ve been working on for some time,” the platform said.
“Restructuring the secondary market is pretty complicated, so we’ve decided to take it offline whilst we do this work. We look forward to launching both the new dynamic secondary market, and the first of our new tax-efficient investments in the coming months, and we will keep you posted about both.”
Brickowner launched its secondary market in February 2021, enabling investors to buy and sell shares in property investments on the new marketplace.
Shares were listed on the secondary market to be bought and sold at their original price of £1 each.
Buyers could then benefit from any income from the date that the shares are bought, although this could also result in losses due to the nature of the investments.
Read more: Brickowner’s Fred Bristol: Building for the future