When can a property be sold?
A property can be sold when:
- There is a vote* between Brick Owners on the 5th anniversary of the property’s Settlement date or;
- A BrickX property’s expenses cannot be funded from the Gross Rental Income, and other alternative funding options have been exhausted, the Trustee may decide to wind up the relevant BrickX Trust and sell the property or;
- Brick Owners may at any time, (before the 5th anniversary of the property's Settlement date), collectively agree to sell a property.
*On the 5th anniversary of a property’s Settlement date there is a vote to give Brick Owners the opportunity to sell the property. Should Brick Owners representing over 50% of the Bricks in that property agree to its sale, BrickX will facilitate the sale and Brick Owners will receive their proportionate share of the proceeds after fees.
Refer to the Product Disclosure Statement for more information.
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