Check this this out German Real Estate project Investment which is SIPP approved and is offering 25% return over 2 yrs seems pretty good and fairly low risk. www.luciancapital.com

Chris: high income and increasing capital dramatically is a tough ask. ever thought about a high income bond fund or PIBS?

I have received a corporate brochure from Lucian Capital and spoken and with them and it does sound a very sound investment, with Germany economy recovering really strongly and Germans buying the properties with generous tax breaks sounds a very interesting alternative, certainly considering investing my SIPP.

This is in the corporate brochure about investing through a SIPP, no harm in contacting them I don't think.

If you are self employed, a company director or a key employee, Investing with Lucian Capital through a pension trust can be the
ideal way to maximise your return on Investment. A pension trust is an entirely tax-free investment vehicle. No corporation tax,
income tax or capital gains tax is payable on any income or capital gains which arise within the trust. The trust must be set up and
administered by a Revenue-appointed trustee.
A leading pensioneer trustee, have approved this unique investment opportunity for pension funds.Whether you are Self Employed,
Company Director or a Key Employee Lucian Capital have access to a flexible range of pension products which will allow you to
invest pension funds in this product giving you more diversification in your pension portfolio. The investment is also available to
those who have Approved Retirement Funds. (ARFs)

What I also liked about Lucian Capital is the trust will have 1st charge on the property so the capital invested is always secured.

The return as I see it is that the trust or your investment is funding the purchase of the monumnent protected buildings, the project company have a German network that sell the off-plan apartments to the German market who benefit from generous tax breaks becuase this is the way the German goverment can restore the heritage, the German buyers can also receive 100% finance so it is the German banks that will fund the renovation. The trust of pension fund have their investment secured by 1st charge registered on the building so seems pretty secure to me, and 12.5% per annum is certainly better than I am getting anywhere else.
All this is over a 2-3 years depending on the size of the project.