Commercial Surveyors Direct were asked to conduct a SIPP Valuation with a client who had several terraced industrial units. A new property was being purchased and two other units were being valued. The existing units needed a valuation done every 5 years and the leases were constructed in such a way that the rent reviews were to be carried out every 3 years.
This meant that, in any 6-year period, our client would have to commission 3 separate valuations. Accordingly, we advised that the leases were amended to have 5 yearly rent reviews, to coincide with the rent start date of the new unit. This meant there would only be the need for one valuation every 5 years – hence reducing the amount our client would be spending on professional fees in the future.
The SIPP Valuation
A SIPP (also known as a Self-Invested Personal Pension) refers to a regulated pension scheme that is governed by HMRC. Whilst this is usually orchestrated by either an insurance company or specialist operator, a SIPP can be initiated by anyone – provided they meet the predetermined criteria. Most significantly, they allow the individual to place their funds into a range of non-insured assets.
If you are currently enrolled in a SIPP and want to invest in commercial property, then you will also require a valuation from a RICS (Royal Institution of Chartered Surveyors) accredited surveyor. Commercial Surveyors Direct can provide these specialist appraisals for a wide range of different premises. For more information on a SIPP Valuation, click here.
Whatever your requirements, our team have a broad range of knowledge and experience in the commercial sector. We’d be more than happy to discuss your individual requirements and offer our professional advice on the best course of action. Please call us on 0808 169 8881 or via email at email@example.com.
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This post was written by James Powell