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After years of searching, Preston-based civil engineering company JJ O’Grady has found improved business premises with the help of their local financial advisers.
Owners Seamus and Kathy O’Grady had been looking for alternative premises for a number of years due to issues around space and security at their current yard in Leyland. In order to accommodate the needs of the business, the O’Gradys were looking for a house, smallholding and yard combined, which was proving to be difficult.
“Previously we were renting premises,” explains Kathy, “but the business was growing fast and it didn’t make sense financially or strategically to stay there. After we were broken into, we decided enough was enough and began looking for suitable sites that provided more room for equipment and materials.”
Kathy got in touch with Steve their financial adviser, who had helped to secure her first mortgage nearly twenty years ago. Since then, Steve has worked with both Kathy and Seamus to achieve their financial aims as a family and a business.
Steve identified that there are various options available in the bespoke pension arena and decided to contact Kerry Houghton, SIPP & SSAS Business Development Manager at Taylor Patterson for her expertise to ensure the right pension vehicle was selected.
Steve says: “Working closely with Kerry, Kathy and Seamus, we identified the need for a pension vehicle which allows them to save for the future and also meet their current needs.
“Setting up a Small Self Administered Scheme (SSAS) pension fund gave them greater control over their investments and flexible options for the business, including the option to purchase property and land.”
Kathy and Seamus found a site in Lostock Hall that offered plenty of space and excellent motorway links, and they were able to use existing personal pension plans and company contributions to the SSAS pension pot to buy the yard outright.
Kathy concludes: “Steve’s help has been invaluable to us throughout. He understood what our needs were and tailored the advice to us as a family and a business, enabling us to search for a business location that ticks all the boxes.
Steve further stated “Without the administrative and specialist knowledge provided by the SIPP & SSAS department at Taylor Patterson the co-ordination of this complex transaction would not have run as smoothly”.
For further information on how a SSAS pension fund can assist you in your pension planning, please contact Kerry Houghton on 01772 550614 or e-mail Kerry.firstname.lastname@example.org