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Reply to: SIPP & Commercial Property
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Previously on "SIPP & Commercial Property"
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In a totally unexpected twist, a CUK thread went from SIPP & Commercial Property to blow jobs in less than two pages, it emerged earlier.......
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Originally posted by BrilloPad View PostAnd I hear NLYUK is expanding too. Is that commercial or private though?
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Originally posted by BrilloPad View PostAnd I hear NLYUK is expanding too.
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Originally posted by barrydidit View PostIt might yet prove to be a smart move. Have you got your eye on all these English companies needing a European base to dodge all the EU tariffs and protectionism that's heading our way?
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It might yet prove to be a smart move. Have you got your eye on all these English companies needing a European base to dodge all the EU tariffs and protectionism that's heading our way?
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Originally posted by northernladuk View PostJust because any sane person would need to be paid to live up there it doesn't make your home a commercial property
HTH
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Originally posted by TestMangler View PostHas anyone on here actually used a SIPP to buy commercial property ? Anything to look out for (with the SIPP fees, not the property itself) or recommendations
??
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Originally posted by TestMangler View PostWe're talking miniscule amounts of money here, by Dimprawn standards.
Urban Dictionary: dim prawn
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Just because any sane person would need to be paid to live up there it doesn't make your home a commercial property
HTH
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Originally posted by DimPrawn View PostOut of interest is this purely for financial speculation, or is the commercial property for your own business to use?
If the former, sounds a bit risky unless it only forms a small % of your investments, especially given global economy, brexit, Scottish referendum, etc.
They were bought, at way above market, by a 'gangsta' a few years ago, who paid double asking price and tried to rent at city centre prices in an island town. Have now all been repossessed.
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Originally posted by barrydidit View PostI don't think a chip van counts as commercial property matey. Nice try though
A local gangster went bust recently and owned several shops which are now for sale by the trustee. We're talking miniscule amounts of money here, by Dimprawn standards. Was more worried about fees sucking the life out of the whole thing. Started reading comparisons of fees on SIPPs which allow commercial property purchase but lost the will to live part way through. Currently have a HL SIPP so would need to move.
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Originally posted by TestMangler View PostHas anyone on here actually used a SIPP to buy commercial property ?
Anything to look out for (with the SIPP fees, not the property itself) or recommendations ??
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In 2009 I invested £50k via a SIPP and got 1% of an office block. It was supposed to yield 5% a year for 5 years. And was sold for £6m in 2015. I was expecting £70k+ back - but ended up with ~60k. The fees had sucked up so much.
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Out of interest is this purely for financial speculation, or is the commercial property for your own business to use?
If the former, sounds a bit risky unless it only forms a small % of your investments, especially given global economy, brexit, Scottish referendum, etc.
Leave a comment:
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