SIPP for buying lock up garage to rent out

Bartoni79

Hi, I’ve currently got a SIPP managed by an investment platform and I’d like to buy a lock up garage using it that I’m rent out. Unfortunately the investment platform doesn’t allow users to buy commercial property using their SIPP. Can anyone recommend a company that will enable this? 

Thanks 

Albermarle

Bartoni79 said:

Hi, I’ve currently got a SIPP managed by an investment platform and I’d like to buy a lock up garage using it that I’m rent out. Unfortunately the investment platform doesn’t allow users to buy commercial property using their SIPP. Can anyone recommend a company that will enable this? 

Thanks 

You need a provider who offers a generally more expensive  'Full SIPP' and some will only work with IFA's.

The only two names I know are Barnett Waddingham and Investacc.

Pat38493

Albermarle said:

Bartoni79 said:

Hi, I’ve currently got a SIPP managed by an investment platform and I’d like to buy a lock up garage using it that I’m rent out. Unfortunately the investment platform doesn’t allow users to buy commercial property using their SIPP. Can anyone recommend a company that will enable this? 

Thanks 

You need a provider who offers a generally more expensive  'Full SIPP' and some will only work with IFA's.

The only two names I know are Barnett Waddingham and Investacc.

What about the one that was discussed in a recent thread in the context of holding bank savings accounts in a SIPP?  The website of that provider seemed to imply that you can hold property in your SIPP but I can't recall the name now.

Albermarle

Pat38493 said:

Albermarle said:

Bartoni79 said:

Hi, I’ve currently got a SIPP managed by an investment platform and I’d like to buy a lock up garage using it that I’m rent out. Unfortunately the investment platform doesn’t allow users to buy commercial property using their SIPP. Can anyone recommend a company that will enable this? 

Thanks 

You need a provider who offers a generally more expensive  'Full SIPP' and some will only work with IFA's.

The only two names I know are Barnett Waddingham and Investacc.

What about the one that was discussed in a recent thread in the context of holding bank savings accounts in a SIPP?  The website of that provider seemed to imply that you can hold property in your SIPP but I can't recall the name now.

That is Investacc , although they call it a Minerva SIPP.

westv

Sounds very niche

Vespaboy

Curtis banks.  

Albermarle

Vespaboy said:

Curtis banks.  

I did not mention them as there have been quite a few posts on here saying they are difficult to deal with. Maybe being unfair.

Bartoni79

Thanks for letting me know

Qyburn

I think the provider would have to manage the property, collect rent etc.

That's how it worked in my last it one job, the company premises were owned by the former proprietor's pension. All rent was paid to the pension provider (Winterthur) and it was them who had to approve any building alterations.

Bartoni79

Thank you. Very helpful