We understand that this is an extremely difficult time for many businesses and that our tenants may have questions about paying rent. This guidance note contains key information and may be the fastest way to get an answer to your query. If you still have questions after reading this guidance note, please contact our Property Credit Control team who are working hard to respond to emails as soon as possible.
We will soon start to transfer all commercial property administration to our Ipswich office, providing a centralised service for all of our clients. This change is applicable to clients with a Curtis Banks Ltd heritage product and will entail a change to your existing contacts for commercial property administration.
You will receive a letter from Curtis Banks 14 days ahead of the transition of the administration of your property to the Ipswich team. In these 14 days you can continue to use your existing contacts. Once the transition has been completed, you will receive a confirmation letter with details of your new contact details for property administration to use going forwards.
Please refer to our Contact page and search for ‘Commercial property administration’ for the most up to date details.
Commercial property can be a very tax efficient investment, with advantages such as rent being paid tax free directly to your SIPP or SSAS, and no Capital Gains Tax (CGT) on disposal. You can find out more by reading our Property Guide.
The Curtis Banks Group has a dedicated team of property professionals who manage in excess of 6,400 properties on behalf of thousands more clients. We pride ourselves on our property heritage and the breadth of our experience which dates back to 1971, and are here to provide you with a complete end-to-end property journey.
Don’t forget that property values can go down as well as up. You may get less than invested and your pension may be lower as a result. Property can also be illiquid and challenging to sell.
We own properties across the UK with uses ranging from the ordinary to the extraordinary. Our experience of property purchases, ongoing management and pension administration ideally positions us to provide for your SIPP or SSAS property needs.
If it’s commercial and based in the UK we will happily assess it, be it freehold, leasehold or commonhold. The most common types of property that we see include shops, offices, restaurants, land, industrial units, hotels, and leisure facilities.
Some properties just aren’t for us though, so we don’t allow property overseas or properties taxable by HMRC. Properties that have a very low Energy Performance Certificate (EPC) rating of F or G require additional consideration.
For further information, please read our Property Guide.
If you are considering a property purchase right now then please contact us and we will be happy to assist.
Commercial property is normally a long term investment, and it’s important to make sure that properties are managed in accordance with HMRC’s requirements. SIPP properties will be managed by our Property Management Teams unless you appoint a third party property manager. The teams will deal with matters including:
- Setting up and maintaining your SIPP property records
- Invoicing and collecting rent, insurance premiums, and service charges (where applicable)
- Paying third party invoices from your SIPP and recharging these to tenants where possible
- Arranging rent reviews, lease renewals, and lease end procedures, including dilapidation settlements.
Throughout your property journey you will need a range of professional suppliers to assist you with a range of activities. Some of these activities are mandatory, some regulatory and others discretionary, but ultimately choosing the right suppliers can influence the performance of your investment. You can choose your own, however the purchase and ongoing management of property within a pension is a specialist area.
Working with many different professionals has taught us the value that experience can add. We have established a panel of legal firms throughout the UK who are experienced in dealing with SIPP and SSAS transactions and acting on our behalf, including our own law firm, Rivergate Legal (authorised and regulated by the Solicitors Regulation Authority). Selecting one of the panel firms brings the benefit of lower fees. To find out more about our panel firms please see our Panel of Solicitors.
We also have a panel of surveyors available who are experts in commercial property and pensions. The panel includes Templemead Property Solutions, a RICS accredited subsidiary of the Curtis Banks Group and members of the PAI Commercial Property Network. You can still choose your own RICS accredited surveyor and you are not restricted to the panel. However, by working with Templemead you will benefit from fixed pricing and agreed service level agreements, as well as years of experience of operating property within pensions. To find out more about these services please see our Panel of Surveyors.