Opoly’s ‘Blockified Property’ To Make Real Estate Investing Possible For NZ$100

Tuesday, 18 May 2021, 9:24 am
Press Release: Opoly

Last Friday, Opoly launched an equity crowdfunding campaign inviting everyday Kiwis to co-purchase an Auckland property worth close to $1 million.

By investing a minimum of $100, members of the public will become co-owners of the property if the campaign is successful. They will have a share relative to their investment in the annual property rent returns and its sale in three year’s time.

The concept is called ‘blockified property’ and is the brainchild of Opoly Founder, Felix Watkins.

“We are excited to make real estate investing accessible and possible for all Kiwis, regardless of their wealth status”, says Mr Watkins.

So far, the equity crowdfunding campaign has raised over $10,000 towards its $947,200 goal.

PledgeMe CEO, Dr Claire McGowan, is interested to see how New Zealanders respond to the offer.

“Successful capital-raising for a community-owned property is not new to the PledgeMe platform”, says McGowan. “Collett’s Corner in Lyttelton raised $1.6 million from over 600 investors on PledgeMe. We’re excited to see Opoly’s crowd rally around them, too.”

The property is located at 33G Florence Avenue in Auckland. It is currently tenanted by Caci Clinic, a New Zealand-owned skincare and beauty treatments company.

Opoly is offering 9472 shares at NZ$100 per share, which represents 100% of the company. The minimum pledge is $100. The equity crowdfunding campaign launched publicly on 14 May at 9:30 am NZDT and has raised $10,600 so far. The offer closes on June 9 at 4:00pm NZDT.

You can find the campaign and information memorandum here:

https://opoly.co.nz/properties

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