Commercial Mortgages Canary Wharf
Canary Wharf is the second financial district of London: around 16 million sq ft of office and retail space, roughly 105,000 workers and the headquarters of more than 150 major businesses on the Isle of Dogs. It is also the E14 postcode district, where sold values fell 15.9% in the year to May 2026, the sharpest fall of any area we cover. We arrange commercial mortgages and refinance here, and we lead with that number rather than around it.
A commercial mortgage in Canary Wharf is long-term secured debt against business premises, underwritten on rental cover, trading profit or EBITDA depending on how the property is held. Commercial Mortgages London is a specialist commercial mortgage broker arranging owner-occupier, investment, semi-commercial and trading-business mortgages across Canary Wharf.
Postcode districts: E14.
5 commercial-relevant planning applications live on the Tower Hamlets register.
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The Canary Wharf commercial property market in E14
Canary Wharf is one of the fourteen Metropolitan centres in the London Plan network and by commercial weight it sits second only to the City of London. The estate and the wider Isle of Dogs carry around 16 million sq ft of office and retail space, roughly 105,000 workers, the headquarters of more than 150 major businesses and six of the ten tallest buildings in the United Kingdom. Historic floorspace measurement put the Canary Wharf sub-market at 2,120,000 square metres of offices, third in London behind the City and Westminster. That figure dates from 2001 and we quote it to show relative scale, not as a current stock number. The Isle of Dogs is also one of the capital's 47 Opportunity Areas.
The E14 sold-price record is the part of this page that matters most to existing owners. HM Land Registry recorded 699 category A residential transactions in E14 in the twelve months to 29 May 2026, at a median of £475,000 and down 15.9% year on year. That is the sharpest fall of any area on this site, against a sub-region down 0.5% and a borough down 7.9%. Medians run £753,000 semi-detached, £750,000 terraced and £460,320 flat, and E14 is overwhelmingly a flat market. Sixty nine of the 699 sales were new build at a 19% premium. This is residential data and it does not set commercial values. It does, however, tell you exactly what mood a valuer arrives at an E14 instruction in.
That has a direct practical consequence and it is a refinance conversation, not a marketing one. If you took a facility on an E14 asset three or five years ago at 70% or 75% of the then value, and the local evidence has moved as far as this, your loan to value at maturity may not be where your original schedule assumed. Lenders reprice off current valuation, not off the historic one. The useful work is to run the numbers early: get a view on today's value, model the interest cover at 6.5 to 8.5% pa, and find out whether you are refinancing, part-repaying or restructuring before a maturity date forces the answer. We would rather have that conversation twelve months out than four weeks out.
Beyond the estate itself, E14 holds a wider commercial market that gets overlooked. Ground-floor retail and food and beverage across the Isle of Dogs, the East India Dock Road corridor at Poplar, subdivided commercial units, day nurseries serving the resident workforce and a large stock of converted and purpose-built flats above shops. Those are ordinary mid-market files at £400,000 to £3M and they trade steadily regardless of what the office towers are doing. The lender shortlist for one of those is nothing like the shortlist for a let office floor, which is why treating E14 as a single market leads people to the wrong lender.
E14 applications on the Tower Hamlets register
Tower Hamlets publishes a register we can read, and it holds five commercial-relevant applications in E14 as read on 26 July 2026. What they show is a district doing ordinary commercial things underneath the towers. PA/26/00874/NC at 231 East India Dock Road proposes subdividing an existing Class E commercial unit into two separate units, which is the single most common way a Poplar landlord improves a rent roll. PA/26/00854/NC at 45 Westferry Road seeks a certificate of lawfulness for use as a day nursery, an asset class that follows the resident population. PA/26/01012/NC extends the Alpha Grove Community Centre on the Isle of Dogs. PA/26/00758/NC at 16 Napier Avenue converts a house to a five-person HMO. Small files, but each one is a real lending conversation.
Commercial asset classes on the Isle of Dogs and in Docklands
Let office floors and part floors
Institutional and secondary space on and around the estate, priced entirely on covenant and unexpired term.
£2M to £20M+
Ground-floor retail and F&B
Units serving the workday population and the resident towers, on Westferry Road, Marsh Wall and the estate periphery.
£400K to £3M
Poplar and East India Dock Road commercial
Roadside and subdivided Class E units, often bought to split and re-let.
£400K to £2M
Day nursery and childcare premises
Settings serving the resident workforce across the Isle of Dogs.
£400K to £1.5M
Semi-commercial and flats above shops
Shop with residential above, priced on blended interest cover.
£350K to £1.5M
HMO and multi-let residential blocks
Converted houses and small blocks let by the room, a growing part of the E14 register.
£400K to £2M
Commercial mortgage products for Canary Wharf and E14 property
Two products carry most of the weight here and they are at opposite ends of the market. Let commercial takes a commercial investment mortgage at 65 to 75% LTV on ICR stressed at 140 to 160%, priced 6.5 to 8.5% pa, with institutional office stock at the lower end of both. Existing owners facing a maturity take a commercial remortgage at 6.0 to 8.0% pa, and given the movement in local values that is the busiest conversation we have in this postcode. Parade and flats-above stock routes through a semi-commercial mortgage. Where a unit is bought empty to split or refit, bridging at 8.5 to 11.0% pa funds it to a letting exit.
Commercial investment
Let office, retail and mixed-use in E14, ICR 140 to 160%, LTV 65 to 75%, 6.5 to 8.5% pa.
Commercial remortgage
Maturing E14 facilities repriced on current value, 6.0 to 8.0% pa, LTV set by today's valuation.
Semi-commercial
Shop with flats above on the Isle of Dogs and at Poplar, blended cover around 145%, to 75% LTV.
Owner-occupier
Businesses buying their own E14 premises, EBITDA cover 1.3 to 1.5x, LTV to 75%, 6.0 to 7.5% pa.
Bridge-to-let
Vacant units bought to subdivide or refit, 0.70 to 0.95% per month, exit onto a term facility.
Lender appetite on Canary Wharf office and E14 mixed-use
E14 office investment and the rest of the postcode are underwritten by different credit teams. On let office investment with a strong covenant and real unexpired term, Barclays, NatWest, Lloyds and Santander quote 60 to 65% LTV at 6.5 to 7.5% pa, and they are noticeably more conservative on LTV in this postcode than they were three years ago. Shorter leases, vacancy or a refurbishment story push a file to Shawbrook, InterBay Commercial, OakNorth and Hampshire Trust at 65 to 70% and 7.0 to 8.5% pa. The £400,000 to £3M band, which is most of the Isle of Dogs outside the estate, sits with Cynergy Bank, LendInvest, Allica, Cambridge and Counties, Together and Paragon at 70 to 75%. FCA authorisation is not held because the products arranged here are unregulated.
Property types we finance in Canary Wharf
Asset classes most active in Canary Wharf, each linked to the dedicated finance structure, lender appetite and typical terms for that property type.
Canary Wharf commercial mortgage rates, fees and deposit
The commercial mortgage rates we are placing in Canary Wharf at mid-2026 sit at 6.5 to 8.5% pa for the dominant local profile, which here is office investment, where lease length and tenant covenant drive the rate more than the postcode does. Expect loan to value of 65 to 75%, which puts the deposit or retained equity at roughly a quarter to a third of the value of the property. Owner-occupied business borrowing prices from 6.0 to 7.5% pa, commercial investment from 6.5 to 8.5% pa, and trading businesses from 7.0 to 9.0% pa. A commercial remortgage on an asset you already hold in E14 runs 6.0 to 8.0% pa.
Costs beyond the rate are where Canary Wharf deals are won or lost. Arrangement fees run 1.0 to 2.0% of the facility. Valuation fees start around £1,500 on a single unit and reach £8,000 or more on a multi-let London building, and the RICS Red Book valuation is the critical path on almost every case, so we instruct it in week one. Legal costs run £4,000 to £15,000. Stamp duty land tax applies at the non-residential rates. Check early repayment charges before you fix, because a five-year fix broken in year two is rarely the cheapest way to repay. Local pricing context: the median transaction in E14 postcode district is £475,000, which is residential data we use only as a temperature gauge for the surrounding market.
Bridging finance in Canary Wharf, and when it is the right answer
Not every Canary Wharf purchase fits a term facility on day one. An auction lot, a vacant unit that needs letting before a lender will price it, or a change-of-use scheme awaiting consent all point at commercial bridging first. Bridging loans run 8.5 to 11.0% pa, or 0.70 to 0.95% per month, over three to twenty-four months, and exit onto a commercial mortgage once the asset is income-producing. We only recommend bridging finance where the exit is genuinely identified and underwritten, because an unplanned bridge is the most expensive money in commercial finance. If the term lender will take the deal now, we will tell you to skip the bridge.
Which Canary Wharf commercial mortgage lenders to approach
There is no single best lender for Canary Wharf commercial property, only the right lender for this building on this week's credit appetite. High-street commercial lenders price keenest on prime business: Lloyds, NatWest, Barclays and Santander all compete where the covenant is strong. Challenger lenders such as Allica, Aldermore, Cambridge and Counties, OakNorth and Paragon take most of the SME and mid-market finance in E14. Specialist lenders, Shawbrook, InterBay Commercial, LendInvest, Cynergy Bank, Together and Hampshire Trust, cover the semi-commercial, multi-let and shorter-lease commercial finance the high street declines.
Comparing those finance options properly is the work. Most brokers send a deal to two lenders they know. We benchmark it across the panel, because the difference between the third-best and the best quote on a Canary Wharf commercial property is usually worth more than every fee in the transaction combined. We arrange commercial mortgages, commercial remortgages, portfolio facilities, second charges and bridging loans. We do not arrange unsecured business loans, and we do not arrange buy-to-let mortgages on residential property, so if that is what your deal needs we will say so and point you elsewhere rather than waste a month finding out.
On eligibility, the property finance question we are asked most in Canary Wharf is what a lender needs before it will commit. For owner-occupied business, two years of filed accounts is the usual minimum, though twelve to eighteen months places comfortably in well-understood sectors. For investment properties the eligibility test is about the tenant, the lease and the cover ratio rather than about you personally. Clean credit for the company and its directors matters throughout, and a full inspection rather than a desktop valuation is worth insisting on, because a thin report can cost five to ten percentage points of LTV. Send us the property market context you already have, the lease or the accounts, and we will tell you which lenders will look at it before you spend anything.
Live commercial planning in Canary Wharf
5 commercial-relevant applications sit on the register for this area. Each one is a building changing use, changing hands or changing size, and most of them need finance at some point in that process. Read on 2026-07-26.
- PA/26/00854/NC2026-07-08
45 Westferry Road, London, E14 8JH
Application for certificate of Lawfulness in respect of proposed use as a day nursery falls with...
E14 8JHView on portal → - PA/26/00758/NC2026-06-30
16 Napier Avenue, London, E14 3QB
Proposed change of use from Single Family Dwelling House (C3) to 5 Bedroom 5 Person HMO (C4)
E14 3QBView on portal → - PA/26/01012/NC2026-06-19
Alpha Grove Community Centre, Alpha Grove, London, E14 8LH
Proposed front and side extensions, a rear storage extension, removal of x1 rooflight to side ele...
E14 8LHView on portal → - PA/26/00874/NC2026-05-18
231 East India Dock Road, London, E14 0EG
Proposed subdivision of existing commercial unit (Use Class E) into two separate units comprising...
E14 0EGView on portal → - PA/26/00818/NC2026-05-15
5 Chipka Street, London, E14 3LD
Change of use from Use Class C3 (dwellinghouse) to Use Class C4 (small house in multiple occupati...
E14 3LDView on portal →
Source: the Tower Hamlets Public Access planning register, filtered for Class E, B2 and B8 uses, change of use into commercial, and trading-business consents. Planning activity is a market signal, not a measure of commercial lending volume.
Canary Wharf sold-price data
Live HM Land Registry transaction data for the Canary Wharf local authority area. Use this as market evidence when appraising your scheme or testing GDV assumptions.
Median price
£475K
-15.9% YoY
Transactions (12m)
699
Completed sales
New-build share
9.9%
69 new-build sales
New-build premium
+19.0%
vs existing stock
Median price by property type
Semi-detached
£753K
Terraced
£750K
Flat / Apartment
£460K
Recent transactions
| Date | Postcode | Address | Type | Price |
|---|---|---|---|---|
| 22 May 2026 | E14 0XN | FLAT 805, SERAPIS HOUSE, 28, GOODLUCK HO… | Flat / Apartment | £635K |
| 20 May 2026 | E14 6TS | FLAT 405, CHORLEY COURT, 24, MADEIRA STR… | Flat / Apartment | £340K |
| 15 May 2026 | E14 0JT | FLAT 101, SAILORS HOUSE, 16, DEAUVILLE C… | Flat / Apartment | £250K |
| 15 May 2026 | E14 9LW | APARTMENT 1108, HAMPTON TOWER, 75, MARSH… | Flat / Apartment | £515K |
| 15 May 2026 | E14 8NF | FLAT 60, ANCHORAGE POINT, 42, CUBA STREE… | Flat / Apartment | £475K |
| 14 May 2026 | E14 3AB | 61, HESPERUS CRESCENT | Terraced | £635K |
| 12 May 2026 | E14 6TS | FLAT 407, CHORLEY COURT, 24, MADEIRA STR… | Flat / Apartment | £335K |
| 12 May 2026 | E14 7LU | 8, YORK SQUARE | Semi-detached | £960K |
Source: HM Land Registry Price Paid Data, E14 postcode district. Updated 29 May 2026. Residential transactions, PPD category A. Used as a market-temperature gauge for the surrounding area, not as a measure of commercial transaction volume.
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