Wednesday, 20 February 2013 09:22
James Hay reaches 6,500 properties under administration
Pensions provider James Hay has announced it has exceeded 6,500 properties under administration.
The firms said this figure makes James Hay Partnership the largest UK Sipp, SSAS and wrap holder of commercial properties.
It said the growth in the sector is due to the firm having a dedicated property team within the company. This meant clients could choose to manage the property themselves or let it be managed by a member of the James Hay property management partners.
Property purchase is also available via the company's recently-launched Modular iSipp which includes an optional Commercial Property module. The cost of the iSipp is £180 per annum while the module can be added for £50 per annum.
Chris Smeaton, head of product development, said: "When most people think of commercial property they think of offices and warehouses. But the beauty of commercial property is the diversity of the options available. We have properties ranging from land with an electrical sub station, pubs, a row of lock up garages, all the way through to major shopping centres."
"Purchasing and leasing commercial property through a Sipp is a complex transaction. We provide advisers with access to highly experienced property experts to help throughout the process and offer guidance where required."
James Hay, a corporate member of the Institute of Financial Planning, has nearly 45,000 clients and £14bn in assets under administration.
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