Commercial property in Chichester
Chichester's city centre is laid out around four main streets, North, South, East and West Street, which meet at the Market Cross. They are lined with shops, restaurants and offices, many in listed Georgian and older buildings, often with flats or offices above. The Festival Theatre, the cathedral and events at Goodwood bring visitors throughout the year, supporting hospitality and retail.
Industrial and trade premises are found on estates around the city, such as Terminus Road, and in business parks on the outskirts, used by local trades, manufacturers and suppliers to larger employers, including the Rolls-Royce factory at Goodwood. Rural businesses around the Manhood Peninsula and the South Downs add farm, horticulture and tourism properties.
Much of the city centre is a conservation area with many listed buildings, which affects changes of use, alterations and valuations. Lenders look closely at the property type, the lease or trading accounts, and the building's condition.
Commercial finance we arrange in Chichester
Our commercial mortgage service covers four main situations:
- Buying your own business premises rather than renting, or refinancing premises you already own.
- Commercial investment property let to one or more business tenants.
- Mixed-use property, such as a shop with a flat or maisonette above.
- Large HMOs and multi-unit residential blocks, where specialist or commercial lenders are often needed.
Mixed-use city-centre buildings, with shops below and flats or offices above, are a common Chichester case.
Speak to a friendly, expert Mortgage Adviser about your unique mortgage needs.
We'll search 1000s of products for the best mortgage and present our advice to you.
Your Adviser will complete your application, liaise with the lender and you, keep you informed until completion.
What commercial lenders look at
For owner-occupied premises, the lender looks mainly at the business: usually two or three years of accounts, how profitable it is and whether it can afford the repayments. For investment property, the focus is on the lease length, the strength of the tenant and the rent compared with the loan. Lenders commonly lend up to around 60% to 75% of the value, depending on the property and the borrower, and terms often run up to 25 years.
Valuations take longer than on a house, and lenders' solicitors look closely at leases, planning use and title. Where a purchase needs to happen faster or a building needs work first, bridging finance can be used and then refinanced onto a commercial mortgage. Business owners can sometimes buy premises through a SIPP or SSAS pension; that needs pension and tax advice alongside the lending.
Commercial mortgage advice in Chichester
Russell Braiden CeMAP and the team arrange commercial and semi-commercial finance across Sussex and Kent. We are directly authorised by the Financial Conduct Authority (FRN 925926) and rated 5.0 stars from 109 Google reviews. We are based in Hastings and most Chichester clients work with us by phone or video, with documents uploaded securely; you are also welcome at our Hastings office.
We explain our fee and how we are paid before any work starts. Contact us or call 01424 444597 for an initial chat.
Frequently asked questions
Can I get a commercial mortgage on a listed shop in central Chichester?
Yes. Many commercial lenders accept listed buildings with the right valuation, although it may take longer.
Do you arrange finance for industrial units in Chichester?
Yes, for owner-occupiers and investors. Lenders assess the business accounts or the lease and the unit itself.
Are commercial mortgages regulated by the FCA?
Generally, no. Commercial mortgages are usually unregulated. If you or a close family member will live in at least 40% of the property, the loan may be regulated, and we will tell you which applies.
How long does a commercial mortgage take?
It is usually longer than a residential mortgage, often several weeks to a few months, because of commercial valuations and legal work on leases and title. If timing is tight, bridging finance may be an option.
Important: Commercial mortgages are generally not regulated by the Financial Conduct Authority. If you or a close family member will live in at least 40% of the property, the loan may be regulated and we will tell you which applies. Your property may be repossessed if you do not keep up repayments on a loan secured on it.
Transparent Mortgage Services is a trading style of Transparent Financial Associates Limited, which is directly authorised and regulated by the Financial Conduct Authority (FRN 925926). 17 Havelock Road, Hastings, East Sussex TN34 1BP. Telephone 01424 444597.
