Pensions are a very popular way of investing in commercial property.
Our solicitors have vast experience of acting for pension funds, including both SIPPs (Self-Invested Personal Pensions) and SSASs (Small Self-Administered Schemes), in relation to the acquisition of a wide range of different types of investment property, including offices, retail units, warehouses, licensed premises and industrial premises.
We also act for pension funds in respect of the letting, management and sale of their property assets.
We can assist pension funds who are looking to purchase property including:
- Advising on the heads of terms agreed for the purchase
- Advising on the purchase structure in conjunction with your other advisers e.g. should the property be purchased in your own name, joint names with others, through a limited company, a LLP or a private pension scheme
- Dealing with the investigation of the title to the property
- Carrying out all necessary property searches in relation to the property
- Raising the appropriate enquiries of the seller to ascertain the required level of information about the property
- Dealing with the requirements of any funder or other third party interested in the purchase
- If the property is to be occupied by a company or business associated with the beneficiary of the pension scheme, we can assist with putting in place the necessary form of lease as required by HMRC
- Dealing with the Stamp Duty Land Tax and registration formalities
- Ensuring that the purchase is registered at the Land Registry
We can assist with all aspects of the letting of pension property including:
- Negotiating and advising on heads of terms
- Drafting and negotiating leases
- Drafting and negotiating agreements for lease
- Negotiating licences for alterations including advising on reinstatement provisions
- Making licence to assign applications including advising on the conditions a landlord may be able to attach to any consent
- Advising on break clause issues
- Advising on rent reviews
- Advising on “green lease” clauses and The Green Deal
- Advising on issues such as rights of light and covenants affecting the landlord’s title
- Advising on security of tenure and the Landlord and Tenant Act 1954
- Dealing with the service of Landlord and Tenant Act notices at the end of an existing lease
- Dealing with renewal leases, including leases by reference to the existing lease and reasonable updating of the lease in the context of the Landlord and Tenant Act 1954
- Advising on deeds of variation and surrenders of leases
We can assist with all aspects of the financing of pension property including:
- Dealing with the loan arrangements with banks, and with the pension administrator’s requirements as regards the banks
- Advising on the terms of facility letters from banks
- Dealing with the drafting of trust deeds between different owners of property, setting out their interest in the property and, if necessary, setting out rights of pre-emption or other arrangements
Examples of our recent work include the following:
- Acting for a hybrid structure involving SIPPs and private limited companies concerning the purchase of an office building for investment purposes, including dealing with the leasing arrangements, the funding requirements and the pension scheme administrator’s requirements
- Acting for a SSAS in relation to the purchase of an office and warehouse property from which the connected limited company operates. This involved relocating the growing trading company into the property through a phased relocation and dealing with the lease issues and pension scheme administrator’s requirements
- Acting for several SIPPs of the partners of a professional services firm in relation to the purchase and letting of their office buildings in a number of locations across the country
- Acting for a SSAS in connection with the purchase of farmland as an investment
How We Can Help
A member of our specialist team will be happy to help.
To discuss Pension Property issues, please either use the contact form on the right, email us at email@example.com or call us today on +44(0)161 941 4000 to speak to a member of our team.