Xafinity SIPP/SSAS has reached the milestone of having 2,000 commercial properties under administration for its clients.

The firm now administers 1,071 commercial property/land assets for its SSAS clients and 929 for SIPP members.

The total value of these SIPP/SSAS property assets stands at over £720m.

Xafinity revealed that 166 commercial property/land purchases had been completed so far in 2019, worth £52m.

During the same period the firm has sold 49 property assets worth £27m for clients who are “realising their asset for retirement and/or selling their business”.

Xafinity has in excess of 100 commercial property purchases that are underway for new and existing clients, with 80% of them being offices, shops and industrial units.

The company said the average value of a SSAS owned property was £475k and the SIPP average was £235k.

Jeff Steedman, head of business development for SIPP/SSAS at Xafinity, said: “Commercial property remains at the heart of the ‘full SIPP’ and SSAS markets and it is what Xafinity do best.

“We are delighted to hear lots of financial advisers talking to their clients about commercial property ownership via their pension plans and outlining the huge tax advantages of doing so.

“It is also pleasing to see financial advisers continuing to trust Xafinity to buy, lease and sell their commercial properties under their SIPPs and SSAS.
 
“Xafinity has 40 years of deep experience in property ownership with SSAS, and with the ‘property SIPP’ reaching its 30th birthday recently direct commercial property investment has become a well-established tax planning tool.”
 
Andy Bowsher, director of self invested pensions at Xafinity, added: “The profile of pensions in the UK continues to climb.

“Importantly Auto Enrolment pushing into smaller companies has raised understanding within SMEs.

“They’ve never been more open to exploring options and bringing their own business premises into their SIPP or SSAS can have very material benefits for both their company and their pension scheme.
 
“Taking ownership under trust of 2000 properties is not something to make light of and one we take very seriously.

“At any one time we’re buying and selling well in excess of 100 properties, managing redevelopments, setting up complex leases with multiple tenants, monitoring rent payments and so on.

“We strive every day to improve what we do and make this as simple as possible for clients and advisers alike.”