SIPP providers allowing direct investment into a commercial property

[Elena18]

Hello,

i have a SIPP investment account with H&L but have been aware that SIPP allows investment into a commercial property. i have identified a property that i am interested in purchasing at an auction, but wasn't clear on the practicalities of how that may happen. I just had a call with H&L and they informed me they do not support direct investment in commercial properties but only through funds, which is obviously not suitable for what i had in mind.
they said other SIPP providers may allow for a direct investment in commercial property. and that transfer of funds may take 2-4 weeks (assuming i split my SIPP account with H&L.
i dont know much about SSAS but i assume opening a new SSAS may not be faster? and unsure how it deals with investment in commercial property.
this particular auction is next week, with requirement to clear full amount in 28 days. is it even possible to use personal funds as a temporary loan for on the day deposit / fees payment and complete within 28 days once funds are transferred to another fund that allows direct purchase? i would like to be able to talk it through with that said fund if at all feasible (and that late in the day).
anything i may be missing?
another thing i was wondering, once property is purchased, i anticipate further expenses around it. how are these expenses again covered by the SIPP in practicality? anybody has experience with that?
even if this one may be too late to execute maybe i can learn something for the future?

[BullDog]

None of the low cost execution only retail investment platforms offer direct investment to commercial property. It's certainly possible to do so, but only with more specialist providers.

[Laughton]

I have a SSAS and they definitely allow you to invest directly in commercial property.

Having used a couple of differnt administrators in the past I am currently with www.SSASPractitioner.com and have been very happy with service and charges. It depends on how large your pension fund is and how many members but they have a flat annual charge (plus VAT) which can work out very reasonable.

It's very flexible, they don't hold any of the pension scheme money (the SSAS has bank accounts with outside banks) or shares (the scheme has dealing accounts with three online brokers).

But I very much doubt you can set it up and transfer from a SIPP in time for you to invest in this particular property.

Worth having a look at their website and contacting them if you feel it might be right for you.

[Elena18]

i managed to find a provider that offers direct investment in SIPP, however it doesnt seem to be what i am needing. the process apparently takes 10-12 weeks to make sure all is set up and the idea is to invest in well established commercial property, which what i had in mind is not (workshop in a back garden which for me is a good investment but apparently not seen so by the SIPP providers).
i am disappointed that there is not more freedom and flexibility in using SSIP / SSAS in investments with potential, not just currently established businesses.
i was hoping to secure the property and potentially sell it on to my daughter when she has a bit more accumulated capital. as if a temporary custody.
my daughter would be able to make good use of the workshop space.
the amount is not high, but i dont want to lock in current savings into this if possible.

[Charlottesquare]

i managed to find a provider that offers direct investment in SIPP, however it doesnt seem to be what i am needing. the process apparently takes 10-12 weeks to make sure all is set up and the idea is to invest in well established commercial property, which what i had in mind is not (workshop in a back garden which for me is a good investment but apparently not seen so by the SIPP providers).
i am disappointed that there is not more freedom and flexibility in using SSIP / SSAS in investments with potential, not just currently established businesses.
i was hoping to secure the property and potentially sell it on to my daughter when she has a bit more accumulated capital. as if a temporary custody.
my daughter would be able to make good use of the workshop space.
the amount is not high, but i dont want to lock in current savings into this if possible.

They all tend to be red tape heavy, and some of the charges do seem to mount up if lower cost purchases; some fees are fixed not proportionate to cost. (Multiple SIPPs owning a property together can have similar issues)

Hornbuckle will certainly do property as will @Sipp and Yorsipp.

Personally to me they are more hassle than they are worth, they will certainly slow transactions and increase costs so you have to be sure there are real benefits using a SIPP in this way.

[Elena18]

They all tend to be red tape heavy, and some of the charges do seem to mount up if lower cost purchases; some fees are fixed not proportionate to cost. (Multiple SIPPs owning a property together can have similar issues)

Hornbuckle will certainly do property as will @Sipp and Yorsipp.

Personally to me they are more hassle than they are worth, they will certainly slow transactions and increase costs so you have to be sure there are real benefits using a SIPP in this way.

Thank you, i am still exploring / learning, your comment helps me process and reflect. much appreciated