Commercial Mortgages Friargate Coventry

The Friargate Coventry commercial property market

Friargate is the deepest single Grade A office submarket in Coventry and the most institutionally underwritten CV1 commercial mortgage cluster. The masterplan covers 14 hectares immediately adjacent to Coventry station, delivered through a Coventry City Council and Cannon Kirk joint venture. Two Friargate (the HMRC West Midlands regional office) and One Friargate (the Coventry City Council civic HQ) anchor the delivered plates and pull the central professional firm cluster towards the station. Plot 8 and the follow-on commercial and hotel lots carry the next-wave commercial mortgage pipeline as each delivered building stabilises.

Mid-cap institutional investors dominate the largest end. The £600K to £4M bracket, secondary CV1 office around Greyfriars Road and Earl Street, ground-floor Class E retail and F&B within the Friargate plates, and Plot 8 follow-on commercial freehold, is the deep-volume zone we work most often. Pricing currently 6.5 to 8.0% pa for clean Friargate investment, with strong-covenant HMRC and Coventry City Council-let stock at 6.5 to 7.0% pa and secondary Greyfriars Road office at 7.5 to 8.5%. Refinancing the development-finance positions on the first wave of delivered Friargate plates onto long-term commercial investment mortgages is one of the highest-volume single products in 2026.

HM Land Registry residential transactions inside the CV1 Friargate catchment cluster around the Coventry station fringe apartment blocks, with the wider CV1 median running around £290,000 on a small sample of recent files. They are not a direct commercial signal but they confirm that the Friargate and station-adjacent catchment continues to absorb residential supply against the backdrop of the City Centre South regeneration and the wider Coventry economy, which underwrites the ground-floor retail and Class E F&B income that most of our Friargate ground-floor commercial mortgage lending sits against.

Active commercial property types around Friargate

Lender appetite for Friargate Grade A office, station-adjacent investment and Plot 8 follow-on commercial

Friargate sits inside the strongest single Coventry lender pool. NatWest, Lloyds, Barclays, HSBC UK and Santander compete on prime Two Friargate and One Friargate-style Grade A office investment let to HMRC and Coventry City Council at 60 to 65% LTV and 6.5 to 7.0% pa, with the West Midlands regional commercial teams in Birmingham covering Coventry deals. Shawbrook dominates mid-market secondary Greyfriars Road office investment and refurbishment at 65 to 75% LTV and 7.0 to 8.0% pa. Cynergy Bank takes selected Plot 8 hotel and aparthotel trading-business freehold against operator EBITDA at 1.5 to 1.8x. Allica Bank is active across Coventry SME owner-occupier on Friargate and Greyfriars Road office freehold. HTB takes selected Friargate Grade A office investment and Plot 8 follow-on commercial deals on its commercial book. Paragon supports HMO portfolios where the modern CBD mixed-use plates carry sui generis upper floors. Together covers semi-commercial and mixed-use along the Friargate fringe at 70 to 75% LTV on blended ICR. YBS Commercial takes selected CV1 office investment deals on West Midlands underwriting. Cambridge & Counties is strong on Warwickshire and the wider West Midlands and brings keen appetite to Friargate secondary office investment and Plot 8 follow-on commercial freehold where the covenant and maintenance plan fit policy. Refinancing on a stabilised Friargate Grade A office asset typically prices 6.5 to 7.5% pa at 60 to 70% LTV. Commercial mortgages are unregulated lending and fall outside the FCA regulated mortgage perimeter, we do not hold FCA authorisation because the products we arrange are unregulated.