Lewis serve up Pizza Express

Lewis, the Poole based innovative investment company, has recently announced the completion of another of their SIPP syndicates which currently allow members to take rental income and capital gains, tax free. A group of investors have joined together to purchase The Whitehouse Restaurant in Basingstoke which is currently leased to Pizza Express.

The premises were secured, with the assistance of Goadsby, for just over £1.2 million including costs; with approximately 68% of this being met by transferring members’ pension funds into the syndicate. Mortgage finance was provided for the purchase by Nat West.

Karen Rickman from Lewis said “When Goadsby first brought this deal to the table we knew it was a good proposition. It ticked all the right boxes; good premises in a busy area with a long term blue chip tenant; Pizza Express has an Experian rating of 91/100 which represents a low risk, they’ve traded from the restaurant since 1988 and their lease doesn’t expire until 2013.”

In conjunction with their property consultants, Lewis are currently working on several more syndicates for both pension and non-pension investors.

ENDS

Editor’s note: Lewis Innovative Investments (formerly Lewis & Co) specialise in providing innovative financial planning to both the corporate and individual markets. Formed in 1987 by Tim Lewis the company is based in Poole but operates throughout the UK. Lewis is constantly striving to develop new products. One such product is a range of SIPP syndicates which invest in high quality commercial property. A recent valuation of a syndicate has shown growth figures of 58%* net after 18 months and 78%* net after 3yrs. To find out more about Lewis please visit their website at www.lewisinvestment.co.uk

*Property prices can fall as well as rise and past performance is no guarantee of future performance.

For press enquiries and further background please contact David McDougall at Evolve on 01202 665777 or email david@time2evolve.co.uk