Commercial property
We allow a wide range of investment choices including investment in commercial property.
The commercial property module can be turned on through the modular iSIPP at any time.
This means any business premises, and the rental income from it, will contribute towards your clients' retirement savings.
You can hold a wide range of commercial properties, including:
Shops
Offices
Warehouses
Farms / Agricultural Land
Licensed Premises
Nursing Homes
We have over twenty years experience in administering a wide range of commercial properties and currently manage approximately 4,000 properties.
HMRC permits borrowing against the value of the fund for the purchase of commercial property. Current legislation permits the SIPP to borrow up to 50% of the net fund value. For example, a SIPP fund with a net fund value of £200,000 could borrow up to £100,000. Rental income must cover the repayments by 130% on a variable rate loan and 110% on a fixed rate loan.
Property Management
Commercial properties held with James Hay are managed by CBRE, our appointed managing agent and one of the leading property consultancy firms in the world. CBRE have a dedicated team for James Hay and as such understand the complexities of ownership of commercial premises within the pension environment, including compliance with HMRC rules.
The core duties of CBRE are principally the collection and reconciliation of rent and dealing with anything that falls under the terms of a lease. Any additional works beyond these core functions may incur a charge.
Solicitor Panel
We work closely with a select group of solicitors who, as well as being specialists in commercial property transactions, have extensive experience in dealing with our SIPP products and processes.
You're free to select a solicitor from our panel or we can select one for you. We select solicitors on a rotational basis and once a solicitor has been appointed to act on behalf of a particular client’s SIPP, we will endeavour to continue to use them to ensure an ongoing and consistent service is provided to you. We do not receive any commission or payment from the solicitors on our panel.
As part of our appointment process, solicitors on our panel agree to charge your clients in line with the following fee schedule.
Where work is undertaken that is not covered by the fee schedule, our panel solicitor will agree any additional charges with your client before they carry out the work. The solicitor’s fees are separate and additional to the charges we take for managing commercial property in your client’s James Hay SIPP. For further details of our charges, please refer to the product charges schedule, which can be found in the literature section.
Jenni Wicheard
Trethowans
01722 412 512
Michael Brown
Womble Bond Dickinson
03454 150 000
Oliver Critchton
Birketts LLP
01473 232 300
Mary Mowbray
Parker Bullen
01722 412 000
Joanne Wilson
Morton Fraser MacRoberts LLP
01413 750 804
Emma Gray
Blackadders
01382 342 279
Joanne Wilson
Morton Fraser MacRoberts LLP
01413 750 804
Key Documents
For more detailed information concerning a commercial property purchase, please visit the 'Commercial Property' section of the literature page.
Due to the level of demand the Property Department works on a strict rotation basis and while we always seek to provide excellent customer service, due to the complexities of property cases we are unable to prioritise specific items. Please also remember that a SIPP Commercial Property purchase typically takes 8-12 weeks from the time solicitors are instructed by James Hay Partnership to completion.
