GUIDE TO PANEL SOLICITORS

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GUIDE TO PANEL SOLICITORS Helping smooth the process of investing in commercial property and land www.investaccpensions.co.uk

2 InvestAcc Pension Administration Limited

Guide to Panel Solicitors Smoothing the process of acquiring Commercial Property and Land Transactions involving direct investments in commercial property and land are some of the most complex that we undertake; experience has shown us that the choice of Solicitor can have a significant bearing on the speed and ease with which the legal processes can be conducted. Our Solicitors Panel is made up of firms who have consistently demonstrated they possess the required level of knowledge and experience to deal with pension scheme transactions, with the resource to deliver a high quality service. By working closely with these firms we have secured specially negotiated terms for standard transactions; the benefits of this are passed to you in full. If you select our Panel Solicitor option we will choose a firm for you. Alternatively, you may choose one from our panel yourself, or nominate your own choice of Solicitor. The following pages provide information supplied by the panel firms listed in alphabetical order, followed by a guide to their fees. Note that all panel firms have agreed the same level of fees for standard transactions. If you have any questions then please contact our Property Acquisitions Team on 01228 538 988 (or email: property@investacc. co.uk). You may also contact any of the firms directly, using the details provided. For more information call 01228 538988 or visit www.investaccpensions.co.uk 3

Burnetts deal with properties in England and Wales How Burnetts can help Burnetts and InvestAcc have been working together since 2007 so our team has built up an in-depth knowledge of the needs of InvestAcc Pension Trustees Limited and its SIPP / SSAS clients: we understand the process and deadlines involved; the regulatory demands and the high standards InvestAcc expects of us. This experience ensures that your transaction is completed efficiently, compliantly and to the highest standards of client care. Our six strong property team successfully completes hundreds of transactions each year for clients, a large proportion of which are carried out on behalf of pension scheme trustees. Accredited and nationally recognised expertise Although Burnetts is a full service firm, we have particular specialisms in commercial property and agriculture, both areas where InvestAcc clients are actively investing. Our property teams are top-ranked by the Legal 500, a prestigious guide to law firms in the UK. A similar guide, Chambers and Partners recognises the property team as having an expertise in transactions involving pension funds. The team is independently accredited by the Law Society s Conveyancing Quality Scheme. Because we have in-house support from a wide range of legal specialists, we have also been able to support InvestAcc and its clients when issues such as trustee disputes, landlord and tenant queries and planning law have arisen. Responsive and accessible team Burnetts team is based just off the M6 at Carlisle and also in Newcastle, but our client base extends well beyond the borders of Cumbria and North East England. We have a dedicated team of specialist property solicitors to support InvestAcc and its clients. These are: Helen Hayward 01228 552244 hh@burnetts.co.uk Robbie Mather 01228 552237 rma@burnetts.co.uk Sarah Loan 01228 552238 sml@burnetts.co.uk Burnetts, Montgomery Way, Rosehill, Carlisle. CA1 2RW www.burnetts.co.uk/investacc DJM Solicitors deal with properties in England and Wales DJM Solicitors are a long established Legal Practice based in Swansea, South Wales who act for a wide range of businesses and commercial entities on a local, regional and national basis. Within the Commercial Property Department the Pensions Team are experienced in dealing with all aspects of pensions related work by way of sale and purchase transactions, syndicated SIPP transactions, In-specie Transfers, Leases and related Landlord and Tenant issues and secured lending. The team has been carrying out this type of work for in excess for 20 years. DJM offers a wide range of commercial legal services to its clients in a cost effective and efficient manner and prides itself on providing a first class service. For more information please contact: Michael Snowdon 01792 656503 mjs@djm.law.co.uk Michael Price 01792 656542 mip@djm.law.co.uk or dept PA Sue Crowden 01792 656503 www.djm.law.co.uk or www.djm.law.co.uk/services/property 4 InvestAcc Pension Administration Limited

Guide to Panel Solicitors Endeavour Partnership deal with properties in England and Wales Endeavour Partnership was formed in 1999 by four experienced lawyers who saw an opportunity for a niche commercial practice in the Tees Valley. The firm was, and still is, the only Tees Valley firm providing purely commercial legal services to businesses in the region. Since its formation, Endeavour, originally four partners and five staff members, has quadrupled in size. The firm operates out of a single site office on Teesdale Business Park which is easily accessible to clients on Teesside, across the North East and beyond. It believes in building long-standing relationships with clients and still advises clients for whom it acted at its launch over sixteen years ago. During its time Endeavour has been nominated for three national awards - the Legal Business Most Enterprising Law Firm of the Year and, for two years in succession, the Best Trainer of the Year, Small Firm nominated by the Trainee Solicitors Group. We go out of our way to ensure that our clients receive practical and high quality advice in a clear and concise manner from people in whom they can trust because clients businesses matter to us. We have built up a reputation for excellence and service to the extent that we are instructed in transactions of a size and complexity that are on a par with those handled by much larger commercial firms outside of our region. The Commercial Property Team at The Endeavour Partnership is capable of handling a full range of property development construction and property finance transactions. A significant sector in which the Property Team have acquired a specialist knowledge is in the law relating to pensions and professional trustees and particularly their duties to scheme members when undertaking all aspects of commercial property transactions. The team understands why professional trustees need trusted advice to help them make the best decisions when acting in their capacity as property owning professional trustees. The Commercial Property Department is headed by two partners Simon Wake and Jamie Brown who are assisted by four further solicitors. For further details please contact Jamie Brown on DD: 01642 610318 Mobile: 07974 082468 Email: j.brown@endeavourpartnership.com Latimer Hinks deal with properties in England and Wales Latimer Hinks is a respected North East firm; the Commercial Property team has an excellent reputation for providing advice on a range of transactions for sellers and purchasers, landlords and tenants, lenders and trustees for commercial, residential and agricultural properties both regionally, nationally and internationally. Areas of expertise include: acting for pension schemes in the acquisition and letting of commercial properties transactions which include elements of both commercial and agricultural work renewable energy including wind and solar farms, acting for landowners and developers land development including negotiating option and promotion agreements with builders and developers mineral related options and leases development contracts development options on all aspects of funding and property acquisitions complex residential property transactions lettings, variations and lease management in respect of retail, industrial, licensed, leisure and office premises across the country The team includes Members of the Country Land and Business Association (CLA) and the Agricultural Law Association and a Fellow of the Agricultural Law Association (ALA). For further information please contact Nicola Neilson on 01325 341500 or by e-mail: nhn@latimerhinks.co.uk www.latimerhinks.co.uk/businessproperty.asp For more information call 01228 538988 or visit www.investaccpensions.co.uk 5

Morton Fraser deal with properties in England, Wales and Scotland Morton Fraser is a thriving, top ten Scottish law firm delivering clear advice to businesses, the public sector, individuals and families. With over 260 people working with us, we provide highly rated legal services across the UK. Our people work from our three offices in Edinburgh, Glasgow and London advising clients throughout the UK as well as internationally. The firm has one of the country s top rated Commercial Real Estate Divisions covering all aspects of commercial real estate work and servicing all client requirements in this sector from its bases. Morton Fraser has its own dedicated Property in Pensions team, one of the largest of its kind in the country which acts for a large number of SIPP, SSAS and other pension providers, structures and arrangements throughout the United Kingdom and has extensive experience in this field built up over many years. The Property in Pensions team acts in all types of pension real estate transactions, from all aspects of property acquisition, management, leasing and disposal to funding/security models and also in relation to syndication and multi member arrangements. Morton Fraser completes hundreds of SIPP/SSAS transactions every year delivering clear technical advice and keeping to agreed fee levels and timescales to meet the requirements of each client. Contact details Fergus McDiarmid 0141 375 0796 fergus.mcdiarmid@morton-fraser.com Joanne Wilson 0141 375 0804 joanne.wilson@morton-fraser.com www.morton-fraser.com 6 InvestAcc Pension Administration Limited

Guide to Panel Solicitors Property and Land What will I pay for standard transactions? Solicitor fees The panel firms will all charge the same level of fees. Purchase or part-purchase of a commercial property or land (including an in-specie transfer of a property from another registered pension scheme) VALUE OF PROPERTY TRANSACTION FREEHOLD LEASEHOLD Up to 50,000 850 1,000 50,001 to 100,000 950 1,100 100,001 to 200,000 1,100 1,250 200,001 to 300,000 1,350 1,500 300,001 to 400,000 1,500 1,750 400,001 to 500,000 1,750 2,000 500,001 to 750,000 2,500 2,750 750,001 or over 2,850 3,000 Additional charges will apply in the following cases: CONDITION If the property requires funding via a bank mortgage 350 To review an existing occupational lease for suitability for the pension scheme 250 Grant of new occupational lease (connected tenant¹ - whole of property) 500 Grant of new occupational lease (connected tenant¹ - part of property) 600 Grant of new occupational lease (third party - whole of property) 700 Grant of new occupational lease (third party - part of property) 750 for one lease ; additional leases 375 Declaration of Trust² 400 FEE Please note: 1. A connected tenant is a connected party as defined in section 993 of the Income Tax Act 2007, and includes close members of your family and any business with which you are associated. 2. For properties in England and Wales, SIPP schemes with 2 or more members may require a Declaration of Trust to be prepared by your Solicitor. Your Solicitor will normally advise you on this. It may also be required in certain multi ownership scenarios, and where your SIPP or SSAS pension scheme owns a part share of the property. A Declaration of Trust is not required for properties in Scotland. 3. The fees stated above are for standard scenarios that would normally be expected in a typical transaction. They do not cover additional work that may be required in exceptional or unusual circumstances. In these cases, each firm has stated that they will advise you in writing when they become aware there may be additional fees for such additional work. 4. All fees are subject to the addition of VAT and do not include disbursements. 5. InvestAcc has acted in good faith when negotiating terms and carefully selecting firms for the panel. However, we cannot be responsible for any failure on the part of a solicitor, their agent or another party. For more information call 01228 538988 or visit www.investaccpensions.co.uk 7

Minerva House Port Road Business Park Carlisle Cumbria CA2 7AF t: 01228 538 988 f: 01228 535 988 e: sales@investacc.co.uk www.investaccpensions.co.uk lnvestacc Pension Administration Limited is authorised and regulated by the Financial Conduct Authority. lnvestacc Pension Administration Limited is registered in England and Wales. Company number 7118349. lnvestacc Pension Trustees Limited is registered in England and Wales, Company number 2875892. Version 1.3 (November 2017)