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Xafinity SIPP / SSAS, part of the UK’s largest pure-pensions specialist Xafinity Punter Southall, has reported an increase in the number of investors turning to commercial property investments.
Commercial property transaction highlights:
178 commercial property/land purchases/transfers were completed in 2017
The total value of these properties was £62.3m, a 38% increase on the £45m worth of properties bought by Xafinity SIPP and SSAS clients in 2016
Property prices ranged from £35k for small office properties to several valued over £1.5m
Xafinity also sold 62 properties on behalf of clients during 2017
The total number of properties now under administration with Xafinity has increased to 1831
Jeff Steedman, Head of Business Development for SIPP / SSAS at Xafinity Plc commented: “Directors of SME companies are continuing to use their existing pension plans to self invest into their business. Putting property into pensions remains an excellent tax efficient way for SMEs to grow their pension funds for retirement, as the rental income alone can provide excellent growth.”
A recent article suggested less than 3% of commercial property purchases are carried out using pension fund money. There is clearly a huge opportunity for further growth in this sector as the tax benefits within pensions are so compelling.
Andy Bowsher, Director of Self Invested Pensions at Xafinity commented: “I believe Xafinity is increasingly a stand-out proposition for SIPP and SSAS given our product breadth, unique and keen pricing, personal service, and absolute focus on supporting advisers. We were absolutely delighted to welcome over 100 new IFA firms to Xafinity in 2017.
“What we have noticed most markedly this year is that our financial strength and clean book is standing us clear of many providers. We are just beginning to see the tip of the iceberg on toxic assets emerging for SIPP providers. Strong governance since our SIPP launch over 10 years ago means we shunned the numerous invitations to sell volumes of SIPPs incorporating many ‘interesting’ investments. This is what advisers should be looking at more closely in 2018.”
For more information please contact:
Louise Dolan, Partner, Camarco
Tel: 020 3757 4982 / 07446 870025
Rebecca Noonan, Senior Consultant, Camarco
Tel: 020 3757 4981 / 07900 340483
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Xafinity SIPP Services Limited is authorised and regulated by the Financial Conduct Authority. You can check our FCA authorisation here. Our reference number is 461791.