Commercial property is back in focus, with a re-energised market just after the Budget. But the opportunity for brokers is not just about rising demand, it’s about judgement, structure and choosing the right lending partners.
According to January market analysis from Rightmove1, UK commercial property demand stayed positive in Q4 2025, despite slower growth and the uncertainty surrounding the Budget.
Demand for industrial warehousing led the market, with leasing demand up 11% and investment demand up 12% year on year. Offices saw modest growth, with leasing up 2% and investment up 4%, though London activity dipped due to caution and tight supply among prime properties.
Retail leasing demand fell by 4% but investment rose 3%, and investment in leisure remained weaker, with flat leasing growth and falling investment. Looking ahead, clearer government policy, the easing Bank Base Rate and limited new supply point to steadier conditions in 2026, especially for industrial and well-located, premium office space.
WHERE BROKERS ADD REAL VALUE
In this uneven environment, the broker’s role is less about sourcing finance and more about shaping the deal.
Commercial clients rarely present straight forward cases because portfolios are mixed and properties are often mixed-usage, so part owner-occupied, part investment. Income may come from rent, trading, or both and planned works, change of use or repositioning are common deal types.
Brokers who understand how lenders view risk can structure cases that stand up to scrutiny. That means clear explanations of the client’s income, making realistic assumptions and an honest view of the downside of the deal as well as the upside.
It also means knowing which lenders are prepared to look beyond narrow sector views.
THE CASE FOR DIVERSITY IN LENDING APPETITE
A lender with a broad commercial book, like LHV, is often better placed to assess individual deals. Exposure across offices, retail, mixed-use, light industrial, social housing and trading premises reduces reliance on any single sector view.
From a risk perspective, this balance matters. Being too heavily weighted towards one asset type can leave lenders exposed when sentiment shifts, so a more even spread allows for steadier lending through cycles.
For brokers, this translates into more routes to finance. Assets that sit outside a favoured sector are less likely to be screened out early and your client deals are more likely to be judged on their merits.
Brokers can work more efficiently when a lender has the experience and expertise to assess the property quality, deal structure and borrower experience rather than approaching cases with blanket rules.
Importantly, in commercial lending, the value is rarely just about the deal rate. It sits in how the loan is structured, the length of the term, sensible leverage and covenants that reflect the asset and the income profile, making sure there is headroom for voids, works or changes in use.
Brokers play a key role here. By understanding lender appetite and credit thinking, they can align client expectations with what is achievable. That avoids wasted time and reduces the risk of deals stalling late in the process.
It also supports longer-term relationships, rather than one-off transactions.
EXPERIENCE AND PARTNERSHIP
Many commercial cases require good judgement calls. Experienced business development teams will help brokers sense-check deals early and support structuring, if needed, before cases reach underwriting and credit. That early input can make the difference between a workable proposal and one that fails on detail.
Underwriters and credit teams with real market experience tend to look for professional reasons to proceed. They understand that commercial property and trading income do not always fit simple models.
For brokers, access to that depth of experience matters as much as headline terms.
Commercial real estate is active again, but it is selective. Beyond offices, opportunity remains spread across the UK property market.
For brokers, success lies in structure, judgement and lender choice. Working with lenders that value diversity of deals and experience gives brokers more scope to support clients properly.
In a market like this, the broker who can shape the deal, not just place it, is the one best positioned to deliver consistent outcomes.
1 Insights. Rightmove 27 January
