Property type: Office
Office Bridging Loans Hull
We arrange bridging finance against office property across the Old Town, Princes Dock Street, Humber Quays, Marfleet Lane and the wider East Yorkshire office market. Loan sizes run £200,000 to £12 million, terms from 1 to 24 months, with completions in 7 to 21 days. Most office bridges in Hull price between 0.75% and 1.35% per month depending on covenant, vacancy and the credibility of the exit. The book skews toward repositioning, port-side logistics tenants and change-of-use rather than vanilla investment hold.
- Decisions in hours
- Completion in days
- £100k to £25m
- East Riding of Yorkshire specialists
Hull · East Riding of Yorkshire
Bridge to your next move.
The asset class
What office property looks like in East Riding of Yorkshire.
Office stock in Hull ranges from the Humber Quays and Princes Dock Street waterfront floors near the Marina, through to the Georgian and Victorian professional-services buildings in the Old Town around Lowgate, Bowlalley Lane and Land of Green Ginger, through to the secondary 1970s and 1980s blocks across the city centre and at Sculcoates. The market is bifurcated. Well-located floors with parking and Marina or river views let well, often to legal, accountancy and marine-services occupiers. Secondary blocks have struggled with hybrid working and many are candidates for residential or hotel conversion under permitted development or full planning. Each of those positions reads differently to a bridging lender and the underwriting follows.
Use cases
Bridging use cases for office assets.
Office bridging in this market clusters around six use cases. The first is repositioning of secondary stock, where a buyer takes a half-empty 1970s block, refurbishes the common parts and floors, and re-lets at a higher tone. The second is change-of-use to residential under permitted development, which has driven a large share of the Hull office bridging book for the last seven years. The third is purchase of single-let investments with short unexpired terms, where the buyer expects either a re-gear or a vacant possession play. The fourth is development-exit where an office-to-resi conversion has reached practical completion and the units are marketing; bridging refinances the development facility while the sales close out. The fifth is capital raise against a low-LTV owner-occupied office, often by a professional services firm wanting to fund the next deposit or works elsewhere. The sixth is auction purchase of small office buildings, typically below £1 million, where the 28-day clock and vacant possession risk push the deal into bridging rather than term debt.
Hull context
Port-Side Logistics Offices, Old Town Professional Services and the Reckitt Campus
Hull office demand sits on top of an economy that is materially different from any inland Yorkshire centre. The Associated British Ports estate at the Port of Hull (King George Dock, Albert Dock and Alexandra Dock) drives a dense run of logistics, freight-forwarding and customs offices along Hedon Road, Marfleet Lane and the eastern dock approaches. The Old Town carries the city's legal and accountancy professional-services cluster, with multi-let Georgian and Victorian floors around Lowgate, High Street and Posterngate that have anchored Hull law firms, surveyors and chartered accountants for generations. The Reckitt Benckiser corporate headquarters and global R&D campus at Dansom Lane in east Hull is one of the largest single-occupier office estates in the city, and the supplier base around it supports a separate consulting and life-sciences office market. The Marina office regeneration around Humber Quays and Princes Dock Street has reshaped the riverside office tone in the last decade. The University of Hull at Cottingham Road generates a steady flow of spin-out and graduate-startup occupier demand at the Aura Innovation Centre and the C4DI digital cluster on Queen Street. Across East Riding, Beverley carries its own market-town office stock, Bridlington holds a smaller coastal office market, and Goole sits as a port-and-logistics office hub on its own logic. Lenders who understand the port-and-Reckitt overlay price the asset correctly. Generalist lenders miss the deal.
Valuation and lenders
Valuation and lender considerations.
Office valuations come back on yield-and-rent for income-producing assets, vacant possession for empty floors, and residual or GDV for conversion plays. Bridging lenders generally lend on the lower of the relevant figures. LTV caps sit at 60 to 65% on vacant secondary office, 65 to 70% on tenanted investments with a recognisable covenant, and 60 to 65% on as-is value where the case is a conversion play with day-one drawdown plus a refurbishment tranche. MT Finance, Octane Capital, United Trust Bank, Hope Capital and Together all run office bridging, with Avamore Capital, ASK Partners, OakNorth and Shawbrook stronger at the larger end. Lenders care about planning position, covenant strength and the realism of the exit. Vague exits kill office cases harder than any other asset class.
What we arrange
What we typically arrange.
A typical Hull office bridge sits at £400,000 to £3 million, 60 to 70% LTV, 9 to 15 months term, 0.75 to 1.25% per month, arrangement fee 1.5 to 2%. We package the planning position, the covenant evidence and the exit plan up front so the lender sees the case the way the underwriter needs to see it. Conversion cases include a monitored works tranche; investment-purchase cases focus on the lease and the refinance route. Completion in 14 to 21 days is normal where the title and planning are clean. Where the planning position is contested, the underwriting takes longer and the rate moves up.
FAQs
Office bridging questions
Can we bridge an office to residential conversion in the Hull Old Town?
+
Yes. Office-to-residential conversions under Class MA permitted development and under full planning have been a steady part of the Hull bridging book since 2017. We arrange the day-one purchase tranche against the as-is office value, a works tranche released against monitoring sign-off, and exit to BTL refinance for held units or open-market sale for disposals. Article 4 directions apply in parts of the Old Town conservation area, so we check the planning position before going to lender, and we work with planning consultants who know the Hull City Council position on these conversions.
What LTV is realistic on a vacant office block at Humber Quays or Princes Dock Street?
+
Most lenders cap at 60 to 65% LTV against vacant possession value on a secondary office. Where the buyer has a credible repositioning plan, a strong track record, and a realistic refinance exit on a refurbished and re-let basis, 65% is achievable. Day-one LTV against purchase price can sit higher where the property is materially below market value, with the gap closed by an independent valuation. The exit drives the LTV more than the entry, so a clear refinance route opens the door to better terms.
Do bridging lenders take office cases backed by port-logistics or Reckitt supply-chain tenants?
+
Yes. The named bridging lenders are comfortable with the Hull occupier profile. Port logistics operators, freight forwarders, customs agents, marine-engineering consultancies, Reckitt suppliers and University of Hull spin-outs are all recognised covenants. Lenders price for unexpired lease term, break clauses and any single-occupier concentration risk, with the strongest cases sitting at 65 to 70% LTV and the lower end at 60%. The presence of ABP and the Reckitt campus is generally seen as a stabilising factor for office demand across HU1, HU2, HU8 and HU9.
Tell us about the deal
Indicative terms within 24 hours.
A short triage call, then a sized indicative offer against a named lender for your office property in Hull or across East Riding of Yorkshire.
Regulated bridging on owner-occupied residential property falls under FCA regulation. Unregulated bridging on commercial and investment property does not. We are not directly regulated by the Financial Conduct Authority, and we introduce regulated cases to authorised partners who carry out the regulated activity.
Next step
Talk to a Hull office bridging specialist.
We arrange short-term finance on office property across Hull, the City of Portsmouth unitary authority and the wider East Riding of Yorkshire market. Indicative terms in 24 hours.