Tennis legend David Lloyd launches Sipp property funds
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British tennis legend and health club mogul David Lloyd is set to launch an international holiday resort fund for Self Invested Personal Pension investors.
The David Lloyd Resorts Investment Fund is set to launch two funds for Sipps of £12.3m and £2.1m respectively of between five and seven years. The funds will invest in five-star luxury holiday villas and spas owned by David Lloyd Resorts.
The resorts, managed and let by the firm, are in Spain, Canada, Thailand, Cyprus and Turkey.
The funds will initially yield 4 per cent a year and demand investments of at least £50,000 for the larger fund and £20,000 for the smaller fund. The funds are looking to generate a target rate of return of around 11 per cent per annum.
David Lloyd says: “I’ve always had a pension and have always been disappointed in what I can and cannot do with it. So we have been working on a solid product that offers a good return with capital appreciation a few years down the line.”
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