Larger prior approval schemes across Greater Cambridge
The planning data here comes from the Greater Cambridge register, which covers the city and South Cambridgeshire. In the twelve months to the latest snapshot it recorded 556 commercial applications, 352 change-of-use applications and 42 commercial-to-residential applications.
The recent prior approval filings are notably consistent: Class E commercial, business and service buildings becoming between two and nine residential units. For a lender, a multi-unit scheme with a defined planning route is a familiar shape of deal, but the numbers involved are larger and the underwriting is more detailed.
What lenders check on a multi-unit conversion
A nine-flat conversion is closer to a small development than a refurbishment. Before agreeing commercial to residential bridging on that scale, lenders typically want:
- the prior approval decision, or a clear timetable for it, with the conditions reviewed;
- a cost plan from a quantity surveyor and a named contractor;
- a valuation showing the current value and the gross value of the finished flats;
- evidence you have delivered similar schemes, or a professional team that has.
Works funding is released in stages after monitoring visits. Our guide to bridging loan valuations explains how the valuer approaches both figures.
Offices and business space that stay commercial
Cambridge has a deep research, technology and university economy, which supports demand for offices, laboratories and light industrial space. Lenders are comfortable with conventional office and industrial stock here, but take a more cautious line on highly specialist fit-out that only suits one type of occupier. Our office bridging loans page covers how lettability and lease length affect the terms you are offered.
Cambridge values and how the loan is repaid
Land Registry data to 30 June 2026 records a median price of £480,000 across all property types in Cambridge, from 1,429 sales, with prices down 2% on the year. High values support larger loans, but a softer year means valuers will be careful with end values on new flats.
Exits are usually unit sales, a block refinance onto buy-to-let or portfolio lending, or a commercial mortgage where the building stays in business use. If you or a close relative will live in any of the homes in the security, the loan may be regulated, and we introduce it to a firm directly authorised by the Financial Conduct Authority. Our rates page explains how pricing is set.
