A property can be freehold, leasehold or commonhold – the latter is treated the same as leasehold. If leasehold we will need to examine the lease to make sure it is acceptable and for this reason it is highly recommended that you give us early details so that we can take a reasoned view of the proposed investment.

The property should be in the UK and commercial, although there are two ‘job related’ exemptions relating to residential property. Commercial property includes:

• Hotels and motels
• Nursing homes
• Public houses
• Land whether developed land, farmland or forestry.
• Ground rent, can be purchased provided the underlying property is not residential

We are likely to refuse foreign property but we will review a proposal upon request.

What is property?
When we invest in property we are only prepared to invest in the bricks and mortar. Therefore investments cannot include items such as fittings, desks, computers etc. Likewise goodwill and stock cannot be part of the purchase. If the proposed purchase includes items such as this, the transaction must be fairly split between the various elements with the SIPP joining in the contract to purchase the property asset only.

All properties are purchased and owned by Suffolk Life Annuities Limited or its nominee.