Standard Life revels in Sipp success
Standard Life has revealed the number of commercial properties being used in its Self Invested Personal Pensions (Sipps) has reached the 1,000 milestone.
It is hailing the addition of the assets to its investment schemes as a "fantastic success" which has captured the imagination of many investors.
According to Standard Life it now has £291 million worth of properties under management.
Sipps, personal pension plans which allow the owners to make their own investment decisions, are often used as a way for small businesses to buy their premises.
Alistair Hardie, head of Sipp at Standard Life, said: "We have helped syndicates, doctors, dentists and other professional people purchase their own commercial property via a Sipp."
He thinks the commercial property market will continue to reap rewards, despite the recent downturn.
He added: "We anticipate further downward pressures in returns for current holders of UK property over the next 12 months.
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