Following the launch of an investment scheme for farmers last year, a small company is now developing a specialist Sipp vehicle to invest in the Swedish housing market.
It will be the second fund launched by Evanridge, a team that consists of two farmers and a former accountant.
For the first fund – the Evanridge Swedish Property LLP, an unregulated collective investment scheme – the team invited farmers to invest in the Swedish property market in the form of an unregulated collective investment scheme.
The team bought a mixed portfolio of commercial and residential property in January and have also found their next purchase, which they are soon to complete.
Huw Evans, finance director of Evanridge Properties, said there were already similar farming-based property funds based in Ireland, but not in the UK.
The new fund, which Evanridge is hoping to launch in September, is aimed at the Sipp market.
It will invest in residential and commercial property. Mr Evans said that by investing in property in Sweden, Evanridge could avoid the “very restricted range of residential investments” available to Sipps in the UK.