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There are two types of pension scheme that are able to invest in property. Self Invested Personal Pension schemes (SIPPs) and Small Self-Administered Schemes (SSASs) can both purchase commercial property, as well as commercial and agricultural land. There is significant complexity in this area and it’s important to work with a property team with a deep understanding of the complex products and the legal and regulatory framework in which they operate.
We provide specialist advice in dealing with the property elements of such schemes, on a range of issues, including property purchases, leasebacks and loans (which may be secured against all types of assets ranging from residential premises to agricultural machinery). We work closely with pension trustees and their advisers, ensuring that transactions complete quickly and smoothly and in full compliance with HMRC requirements (avoiding potentially substantial penalties).
Our lawyers advise on all types of pension scheme property transactions, including:
We work with the trustees of pension schemes of all sizes, helping them and their beneficiaries with all aspects of pension property investment.
Relevant recent cases and transactions include:
Acting for a SSAS lending capital to its sponsoring employer (a chain of boutique hotels). The security was to be charged on a residential property (considered higher risk of triggering a penalty for unauthorised payment). The property belonged personally to one of the sponsoring employer directors rather than being a company asset.
A complication arose when it was discovered that the property being used to secure the assets was unregistered and that the deeds could not be located. Following a series of enquiries and investigations the deeds were tracked down, enabling a first registration. During this process, searches revealed that the property was subject to at least one legal charge. This had the potential to result in substantial penalties on the fund if the new charge was not able to be registered as a first charge but we successfully resolved the issue.
The new legal charge was drawn up specifically tailored to the situation (a third party securing loan), which ensured that in the event of default of the loan the pension fund would not become mortgagees in possession – which again would have serious tax implications.
Our planning & infrastructure service helps clients secure planning permission for all types of commercial, residential and mixed use developments.
Our Property finance service acts for both lenders and borrowers to navigate the credit market and secure the most advantageous solution.
We act for a wide range of clients across projects ranging from major urban regeneration schemes through office blocks, shopping centres and hospitality venues to small new build housing developments.
We specialise in advising developers and landowners on long-term strategic acquisitions and disposals and collaboration, consortium and promotion agreements, as well as site assembly and conditional and unconditional transactions.
Our industrial and logistics specialists combine technical expertise with a pragmatic, commercial and proactive approach, to deliver high-quality, cost-effective, efficient and creative solutions.
A growth strategy is essential for a business to evolve and prosper. Our experienced deal team will help you navigate key decisions when under pressure, ensuring your business continues to grow and flourish.
All businesses are international whether they realise it or not. Supply chains, people and markets are inherently international. We deliver proactive, commercial advice to help businesses thrive in the global economy.
We help companies successfully navigate the complexities of the UK immigration system as they looking globally to meet their staffing needs.
No industry sectors or businesses are immune and issues can arise relating to almost any aspect of business operations. We advise our clients on strategies to resolve disputes with the aim of seeking commercially advantageous solutions.
Our team can have you up and running with a company in 24 hours, provide you with a corporate compliance and filing service and guide and support you in performing UK director’s duties.
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