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SIPP & SSAS Pension Fund Property Valuations

If your pension scheme holds commercial property (an office, shop, warehouse, industrial unit, or other non-residential building), your scheme trustees or administrator will need a formal, independent valuation to keep the scheme compliant. Gibsons Surveyors provides RICS Red Book valuations of commercial property held within Self-Invested Personal Pensions (SIPPs) and Small Self-Administered Schemes (SSASs), prepared to RICS Valuation Global Standards and accepted by pension scheme administrators and trustees across Essex, London and the Home Counties.

Request a quote today or call 0203 963 3777 (London) / 01268 949 100 (Essex).

Why a professional SIPP/SSAS valuation matters

SIPPs and SSASs are permitted to hold commercial property as a pension asset, but not normally residential property, and that asset has to be valued properly. Trustees and scheme administrators carry responsibility for the accuracy of the figures reported on the scheme, and an informal opinion or an estate agent’s appraisal doesn’t meet the standard required. An independent RICS Registered Valuer, working to RICS Valuation Global Standards (the “Red Book”), provides a robust, defensible valuation that satisfies scheme administrators, auditors and, where relevant, HMRC. That protects trustees from the risk of an inaccurate figure being challenged later.

When trustees and administrators need one

A Red Book valuation of the scheme property is typically required:

  • At acquisition. When the property is first purchased by or transferred into the SIPP or SSAS, to establish the price paid represents market value and support the scheme’s records.
  • On periodic revaluation. Most scheme administrators require an up-to-date valuation annually, or at set intervals, so the scheme’s asset value is correctly reported.
  • On any change to the property or the scheme. A lease renewal, a change of tenant, a rent review, substantial works, or a change in the scheme’s membership can all trigger a need for a fresh figure.
  • On borrowing against the property. If the scheme is raising or refinancing a loan secured on the asset, lenders will usually require a current valuation.
  • On winding up, transfer or benefit crystallisation. When property is sold, transferred between schemes, or used to calculate a member’s benefits.

Your scheme administrator or trustees will usually confirm exactly when a valuation is due. If you’re not sure, get in touch and we can help you work out what’s needed.

What scheme administrators and HMRC require

SIPP and SSAS property valuations need to stand up to scrutiny from the scheme administrator, the scheme’s auditors, and HMRC if the scheme is ever queried. A compliant valuation should be:

  • Prepared by an independent RICS Registered Valuer, with no connection to the transaction or the parties involved.
  • Carried out to RICS Valuation Global Standards (the Red Book), the recognised professional standard for formal valuations.
  • Based on market value, supported by comparable evidence and, where relevant, an assessment of rental value and lease terms.
  • Presented as a formal, signed report suitable for submission to the scheme administrator, trustees, auditors or HMRC.

This is proper Red Book valuation work, the same professional standard used for matrimonial, Help to Buy and other statutory or scheme-related valuations. It is not an informal desktop opinion or a rebuild cost estimate.

Why choose Gibsons Surveyors

Gibsons Surveyors is an independent, RICS-regulated firm of Chartered Surveyors and Registered Valuers, led by Andrew Gibson BSc (Hons) MRICS, Director and RICS Registered Valuer, with Harry Crawford-Vine AssocRICS. We carry out Red Book valuations across a range of commercial property types, including offices, retail units, industrial and warehouse space, and mixed-use buildings, for pension scheme trustees, administrators, accountants and financial advisers across Essex, London and the Home Counties. Because we’re independent of the scheme, the trustees and the transaction, our valuations carry the impartiality that administrators and HMRC expect.

How it works

  1. Get in touch with the property address, the type of scheme (SIPP or SSAS), and the reason for the valuation: acquisition, periodic revaluation, or another trigger event. We’ll confirm a fixed fee and likely turnaround.
  2. We arrange a site inspection of the property (or agree the appropriate approach with you and the administrator where a full inspection isn’t required), and gather comparable sales and rental evidence.
  3. You receive a formal, signed RICS Red Book valuation report, addressed as required by the scheme administrator or trustees, and suitable for submission to HMRC if needed.

Fees and timing

We quote a fixed fee upfront, before you commit to anything, based on the property type, size and the purpose of the valuation. Get in touch with your details and we’ll confirm a price and likely turnaround by return.

Frequently asked questions

Can a SIPP or SSAS hold residential property?

Generally no. HMRC rules mean residential property held directly in a SIPP or SSAS attracts significant tax charges, so these schemes normally hold commercial property instead: offices, shops, industrial units and similar. If you’re unsure whether your property qualifies, your scheme administrator or financial adviser can confirm this.

How often does the property need revaluing?

Most scheme administrators ask for a valuation at acquisition and then periodically after that, often annually, plus whenever there’s a material change, such as a rent review, refinancing or change of tenant. Your administrator will usually set the exact schedule.

Will HMRC and my scheme administrator accept your valuation?

Our reports are prepared by an independent RICS Registered Valuer to RICS Valuation Global Standards, with supporting comparable evidence. That’s the recognised professional standard scheme administrators and HMRC expect for pension property valuations.

How much does a SIPP/SSAS valuation cost?

Fees are fixed and quoted in advance, based on the property and the purpose of the valuation. Get in touch for a fixed quote.

How quickly can you turn the report around?

Reports are usually delivered within a set number of working days of instruction. We’ll confirm a specific timescale when you get in touch, based on the property and scheme.

Do you cover my area?

We cover Essex, London and the Home Counties, with offices in both London and Essex.

Request your SIPP or SSAS valuation

If your pension scheme holds commercial property and a valuation is due, whether for acquisition, an annual review, or another trigger event, get in touch with the property details and we’ll confirm a fixed quote and timescale.

Request a quote today or call 0203 963 3777 (London) / 01268 949 100 (Essex).