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Commercial property/land asset highlights:
We now administer 1,071 commercial property/land assets for our SSAS clients and 929 for SIPP members
The total value of these SIPP/SSAS property assets stands at over ££720m
166 commercial property/land purchases have been completed so far in 2019, worth £52m
During the same period Xafinity has sold 49 property assets worth £27m for clients who are realising their asset for retirement and/or selling their business
We have in excess of 100 commercial property purchases that are underway for new and existing clients
80% of the commercial properties our SIPP/SSAS clients buy are offices, shops and industrial units
The average value of a SSAS owned property is £475k and the SIPP average is £235k
Jeff Steedman, Head of Business Development for SIPP/SSAS at Xafinity commented: “Commercial property remains at the heart of the ‘full SIPP’ and SSAS markets and it is what Xafinity do best. We are delighted to hear lots of financial advisers talking to their clients about commercial property ownership via their pension plans and outlining the huge tax advantages of doing so. It is also pleasing to see financial advisers continuing to trust Xafinity to buy, lease and sell their commercial properties under their SIPPs and SSAS.
“Xafinity has 40 years of deep experience in property ownership with SSAS, and with the ‘property SIPP’ reaching its 30th birthday recently direct commercial property investment has become a well-established tax planning tool.”
Andy Bowsher, Director of Self Invested Pensions at Xafinity added: “The profile of pensions in the UK continues to climb. Importantly Auto Enrolment pushing into smaller companies has raised understanding within SMEs. They’ve never been more open to exploring options and bringing their own business premises into their SIPP or SSAS can have very material benefits for both their company and their pension scheme.
“Taking ownership under Trust of 2000 properties is not something to make light of and one we take very seriously. At any one time we’re buying and selling well in excess of 100 properties, managing redevelopments, setting up complex leases with multiple tenants, monitoring rent payments and so on. We strive every day to improve what we do and make this as simple as possible for clients and advisers alike.”
For more information please contact:
Rebecca Noonan, Associate Partner, Camarco : Tel: 020 3757 4981 / 07900 340483
Mia Carlin, Consultant, Camarco : Tel: 020 3781 9242 / 07903 281922
© 2019 XPS Pensions Group - All rights reserved
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.