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Category: UK Property Law
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Experience:  30 years commercial law
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As I understand it, I can use a SIPP as an effective vehicle

Resolved Question:

As I understand it, I can use a SIPP as an effective vehicle to acquire commercial property, at auction or whatever, provided the acquisition documentation is correctly structured but residential property does not qualify for a SIPP.

My question is whether a Victorian mansion block of 12 flats let as an "apart-hotel" may qualify in whole or in part for a SIPP.

The flats' use does not seem to me to be particularly residential because people come and go weekly and the management is very definitely a commercial operation with check-ins, airport transfers, full time response to complaints, cleaning the flats, laundry, making beds etc. But there is no central restaurant / dining area - guests have to make their own eating arrangements.

Any guidance wd be greatly appreciated.

Many thanks, XXXXX
Submitted: 1 year ago.
Category: UK Property Law
Expert:  senior partner replied 1 year ago.
Thank you for your question.If it is is a block of flats even if serviced It would almost certainly classify as residential unless it has planning consent as a hotel and you would be ill advised to take a risk as the tax consequences are horrific. the botXXXXX XXXXXne is that to invest in property you need to organise it with the SIPP provider and have a SIPP that permits it( by no means all do). They will themselves have a view on whether it is permitted so you need to talk to them.
senior partner, Solicitor
Category: UK Property Law
Satisfied Customers: 13248
Experience: 30 years commercial law
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