Led by Matt Lenzie, ex-Lloyds Bank and Bank of Scotland, we arrange commercial mortgages, bridging finance, and development finance for property professionals across Lerwick and Scotland.
Direct relationships with executives and board members of the UK's leading lenders
Former Lloyds Bank and Bank of Scotland professionals who understand lender criteria inside-out
Direct relationships with lender decision-makers for faster approvals and better terms
Proven success arranging complex commercial property finance across the UK
“Shetland capital with strong oil and gas sector. Major fishing and aquaculture. Remote but prosperous.”
— CMB Market Analysis
Lerwick waterfront development; Mareel arts centre; Knab site (former Anderson High School); harbour master plan; Shetland Museum investment; housing growth; Viking Energy wind farm benefits
| Property Type | Prime / Grade A | Secondary | Market Range |
|---|---|---|---|
| Office | £21 psf | £6 psf | £6 - £21 psf |
| Retail / Shop | £32 psf | £18 psf | £18 - £32 psf |
| Industrial | £5 psf | £3 psf | £3 - £5 psf |
Market estimates based on Q1 2026 regional benchmarking data. For accurate valuations, contact us for a detailed assessment.
Indicative gross yields. Actual returns depend on property condition, lease terms, and tenant covenant strength.
Investor appetite for Lerwick commercial property remains steady, with hospitality & tourism assets attracting the most interest.
Representative transactions reflecting current market activity. Prices are guide values based on comparable evidence.
Grade A office suite, Lerwick Town Centre
Retail premises with storage, town centre
Modern industrial unit, trade estate
73-bedroom serviced accommodation, Sound
Market estimates based on Q1 2026 regional benchmarking. For accurate valuations, contact us.
Founder & Principal Broker
With a career spanning Lloyds Bank, Bank of Scotland, and a partnership in a corporate finance business, Matt brings institutional-grade expertise to every deal in Lerwick. Currently a board advisor to a pension administrator and trustee with £3.9bn of assets under advisory, Matt has raised over £300m of capital for property professionals across the UK.
View Full ProfileLerwick presents development opportunities linked to Lerwick waterfront development. Growing demand from the Oil & Gas Services sector is creating opportunities for purpose-built commercial space and conversion projects. Strong transport links enhance viability for mixed-use and residential-led schemes.
Specialist appetite. Energy and marine sectors.
Our team has deep experience arranging commercial mortgages, bridging loans, and development finance across Lerwick and the wider Scotland region, from commercial property purchases to development and refurbishment projects.
Lerwick is the capital of Shetland, Britain's most northerly town, with a spectacular natural harbour and a unique cultural identity blending Scottish and Norse traditions (celebrated in the famous Up Helly Aa fire festival). The commercial property market benefits from strong demand across Oil & Gas Services, Fishing & Aquaculture, Knitwear (Shetland wool) sectors, creating diverse occupier interest and reducing single-sector risk. With average yields of 5.5% and 11% price growth over five years, Lerwick offers compelling returns for commercial property investors. Excellent connectivity via NorthLink ferry to Aberdeen/Kirkwall supports tenant demand and underpins long-term property values. Ongoing regeneration activity, including Lerwick waterfront development, further enhances the investment outlook and signals sustained public and private sector confidence.
Distinct legal framework for property transactions requires specialist Scottish conveyancing expertise. Business rates policies differ from England, and some lenders apply Scottish property restrictions.
Lerwick's commercial property landscape has been shaped by Lerwick waterfront development. Growth in the Oil & Gas Services sector has driven notable investment activity, with occupier demand supporting new development and refurbishment projects across the area.
Planning applications in Lerwick are managed by Scotland council, which has adopted a pro-growth stance supporting commercial and mixed-use development. Local plan policies favour brownfield regeneration and town centre investment, with a streamlined approach to permitted development rights for office-to-residential conversions.
Commercial property news for Lerwick will appear here once available. Check back soon for the latest market updates.
We provide commercial mortgages, bridging finance, and development finance throughout Scotland.
Commercial mortgage services available across Lerwick and surrounding areas. View larger map
Office rents in Lerwick range from approximately £6 per square foot for secondary space up to £21 per square foot for Grade A accommodation. Grade B office space, which represents the bulk of the market, typically commands around £10 per square foot. These figures are based on Q1 2026 regional market benchmarking.
Investment yields in Lerwick vary by property type and grade. Current indicative yields are: offices at 7.39%-7.57%, retail at 7.4%-9.91%, industrial at 5.99%-7.02%. Prime yields are typically lower, reflecting stronger covenant strength and location quality. Contact us for a detailed yield analysis for your target property type.
Lerwick's commercial property market includes offices, retail units, industrial premises, hotels and guest houses. We arrange finance across all commercial property types, from standard office and retail purchases to specialist assets requiring tailored lending solutions.