Commercial Mortgages Devon
Plymouth waterfront with harbourside development

Commercial Mortgages Plymouth

Plymouth is the largest city in Devon and the marine and defence capital of the South West, Devonport dockyard, Sutton Harbour, the Barbican, Plymouth Science Park, the University of Plymouth and The Range retail HQ. We arrange commercial mortgages for waterfront and harbourside investment, marine and industrial owner-occupier, retail and mixed-use across PL1 to PL9, and we name the lenders for each.

26 active commercial property listings currently tracked in Plymouth.

The Plymouth commercial property market

Plymouth carries the largest single commercial economy in Devon, anchored by Devonport, one of the largest naval bases in Western Europe, and the marine and defence supply chain that surrounds it. Sutton Harbour and the Barbican drive the waterfront leisure, hospitality and harbourside investment market. Plymouth Science Park and the University of Plymouth underpin office and lab demand. The Range, headquartered in the city, anchors a substantial retail and logistics base around Estover and Langage.

The deep-volume bracket we work is £300K to £2.5M: secondary office, harbourside hospitality, marine and industrial owner-occupier and the city-centre retail core. Clean owner-occupier prices 6.0-7.5% pa; investment 6.5-8.5% pa; trading hospitality on the waterfront 7.0-9.0% pa on EBITDA cover. Refinancing is busy as 2020-2021 fixes mature.

HM Land Registry residential transactions across PL1 to PL9 confirm a large and stable resident base, from the city-centre apartment market to the suburban family stock in PL6 and PL7. They are not a direct commercial signal, but they underwrite the retail, leisure and semi-commercial income our Plymouth lending sits against.

Recent commercial planning activity around Plymouth (PL postcodes)

Our live planning feed does not currently hold applications for Plymouth's PL postcodes; the Plymouth City Council pipeline is not yet in our data lake. The figures and archetypes below draw on the wider South West commercial corridor as an illustrative guide rather than on Plymouth-specific consents. As an adjacent-corridor reference, the Innovation Valley first-floor insertion at Kennford in Teignbridge (Ref 26/00844/FUL, TQ13 0DG) shows the kind of industrial intensification deal we fund along the M5 corridor that feeds into the Plymouth marine and logistics supply chain. We have placed waterfront hospitality, marine industrial and city-centre retail deals across Plymouth repeatedly; we cite the live consent illustratively because the dataset does not yet carry a PL-postcode application. Stamp duty applies at the commercial rates on every purchase; refinancing is unaffected.

Active commercial property types in Plymouth

Sutton Harbour / Barbican hospitality

Waterfront pubs, restaurants and leisure trading-business.

£400K-£2M facility

Marine and defence industrial

Devonport supply-chain B2 / B8 owner-occupier.

£300K-£2M

Plymouth Science Park office

Office and lab-enabled investment and owner-occupier.

£500K-£3M

City-centre retail

Drake Circus and core retail investment.

£500K-£3M

Estover / Langage logistics

Distribution and trade-counter investment.

£500K-£4M

Mixed-use waterfront blocks

Ground-floor commercial with apartments above.

£500K-£2.5M

Commercial mortgage products active in Plymouth

Investment routes via commercial investment mortgage. Marine and industrial owner-occupier via owner-occupier mortgage on EBITDA cover. Harbourside pubs, restaurants and leisure route through trading-business mortgage. Mixed-use waterfront blocks via the mixed-use route. Refinancing maturing facilities is the largest single 2026 use case.

Owner-occupier

Businesses buying their trading premises, EBITDA cover at 1.3-1.5x, LTV to 75% on bricks.

Commercial investment

Let assets, ICR at 140-160% stressed, LTV typically 65-75%.

Semi-commercial

Shop+flat archetypes, blended ICR ~145%, LTVs to 75% via specialists.

Bridge-to-let

Vacant or value-add acquisitions with refurb / re-let exit onto term mortgage.

Refinancing

Maturing facilities, equity release on stabilised commercial assets, rate-driven switches.

Lender appetite for Plymouth waterfront, marine and retail

Strong across the PL economy. Lloyds, NatWest, Barclays and Santander compete on prime office, retail and marine-industrial investment at 60-65% LTV and 6.0-7.0% pa. Shawbrook, Allica, HTB and Cambridge & Counties cover the mid-market and Devonport supply-chain owner-occupier at 70-75% LTV. Harbourside and Barbican hospitality routes through Cynergy Bank and specialist trading-business desks at 7.0-9.0% pa on EBITDA cover. InterBay Commercial and LendInvest cover value-add and mixed-use waterfront stock. Commercial mortgages are unregulated and fall outside the FCA's regulated mortgage perimeter. We do not hold FCA authorisation because the products we arrange are unregulated.

Property types we finance in Plymouth

Asset classes most active in Plymouth, each linked to the dedicated finance structure, lender appetite and typical terms for that property type.

Leisure & hospitality

Leisure & Hospitality

LTV: 60–70%

Industrial & warehouse

Industrial & Warehouse

LTV: 70–75%

Office

Office

LTV: 65–75%

Retail

Retail

Investment LTV: 65–75%

Pub & restaurant

Pub & Restaurant

LTV: 60–65%

Mixed-use

Mixed-Use

LTV: 65–75%

Plymouth sold-price data

Live HM Land Registry transaction data for the Plymouth local authority area. Use this as market evidence when appraising your scheme or testing GDV assumptions.

Median price

£220K

+0% YoY

Transactions (12m)

3,002

Completed sales

New-build share

0.2%

6 new-build sales

New-build premium

+29.0%

vs existing stock

Median price by property type

Detached

£391K

Semi-detached

£260K

Terraced

£210K

Flat / Apartment

£130K

Recent transactions

DatePostcodeAddressTypePrice
27 Mar 2026PL6 6JPFLAT 6, MOSES COURT, MOSES CLOSEFlat / Apartment£98K
27 Mar 2026PL5 1UT98, CARDINAL AVENUESemi-detached£246K
27 Mar 2026PL4 7EFFLAT C, 47, ALEXANDRA ROADFlat / Apartment£65K
27 Mar 2026PL7 1XH77, CANEFIELDS AVENUESemi-detached£285K
27 Mar 2026PL3 5UF107, TORR LANETerraced£300K
27 Mar 2026PL9 8LJ5, FURZEHATT AVENUEDetached£253K
27 Mar 2026PL4 9EP30, FARINGDON ROADTerraced£227K
27 Mar 2026PL6 6JU77, ALGER WALKTerraced£165K

Source: HM Land Registry Price Paid Data, Plymouth LPA. Updated 20 May 2026.

Plymouth commercial mortgage FAQs

Yes. Waterfront hospitality routes through trading-business mortgage on EBITDA, barrelage and covers. Cynergy Bank and specialist licensed-trade desks are most active at 60-65% LTV and 7.0-9.0% pa. We assess the trading accounts and the lease before shortlisting lenders.
Up to 75% LTV on B2 / B8 owner-occupier supply-chain stock. EBITDA cover 1.3-1.5x. Allica, HTB and Shawbrook compete keenly at 6.0-7.5% pa for strong covenants. Refinancing maturing five-year fixes is currently busy.
Our live planning feed does not yet hold applications for Plymouth PL postcodes, the city is not currently in our data lake. We cite an adjacent M5-corridor industrial consent (Innovation Valley, Kennford, Ref 26/00844/FUL) illustratively. We do not invent reference numbers; we work the live deal flow directly.
Office and lab-enabled investment with strong covenants prices 6.0-7.5% pa at 60-70% LTV. Owner-occupier office on EBITDA cover sits at the keener end. The University of Plymouth and the marine-science cluster support occupier demand.

Other Devon Areas We Cover

Exeter

24 active listings

Torquay

12 active listings

Paignton

8 active listings

Barnstaple

10 active listings

Newton Abbot

9 active listings

Exmouth

7 active listings

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