Exterior brickwork water protection before painting?

[ashthekid]

I plan to paint an external corner brick column that is roadside and very close to the road so gets a lot if splashing when cars drive past in wet weather. It’s a very old property and this is an existing brick column. 
The paint has peaked off over the years before we purchased the project. 
Am I best treating this brickwork with a water sealant to stop any dampness coming through to the property and also just protecting the brickwork in general before painting it the colour we want with a standard masonry paint? It will a masonry paint have some sort of protection already in it?

 

When I look at Thompson or Bostik’s water sealant for exterior brickwork it states I cannot paint over the top which is annoying as I do need to paint it. 
 

What is the best thing to do?

 

[Mr Punter]

Masonry paint will probably do and it is fairly cheap and simple.