Stonehouse, Plymouth
Bridging Loans Stonehouse Plymouth
Stonehouse sits between the Plymouth city centre and Devonport in the western half of PL1, fronting Stonehouse Pool and the Tamar estuary. The area covers the historic Georgian streets running from Union Street down to the waterfront, the Royal William Yard regeneration site at the south-western tip, and the inland belt around Wyndham Square and Durnford Street. We arrange specialist bridging finance across Stonehouse with a deal mix that spans dev-exit on the Royal William Yard apartment programme, refurbishment on Georgian period stock, mixed-use on the Union Street corridor and chain-break on the area's owner-occupier moves. The Royal William Yard regeneration anchors the western waterfront and continues to drive the deepest dev-exit pipeline in the city.
Stonehouse median
£176,500
PL1 postcode area
Recent sales tracked
6
Land Registry, last 24 months
Dominant stock type
Flat
83% of recent transactions
Indicative monthly rate
0.55–1.5%
Subject to LTV, exit and security
The area
Stonehouse in context.
Stonehouse is one of the three original towns that merged in 1914 to form modern Plymouth, alongside Devonport and the old town of Plymouth itself. The area's Georgian core was laid out from the late eighteenth century by the Edgcumbe family, with Durnford Street and Emma Place forming the surviving terraced grid running down to Stonehouse Pool. The Royal William Yard at the south-western tip is a Grade I listed former Royal Navy victualling yard, designed by Sir John Rennie and completed in 1835, regenerated since 2007 by Urban Splash and Devon County Council into a mixed-use apartment, restaurant, gallery and creative-workspace destination. The Royal Marine Barracks at the harbour edge and the Stonehouse Creek bridge to Devonport form the area's other heritage anchors.
The residential streetscape splits into three layers. The first is the surviving Georgian terraced housing on Durnford Street, Emma Place, Wyndham Square and the streets running between, much of it converted to flats or maintained as larger single dwellings. The second is the Royal William Yard apartment stock, with the converted listed buildings carrying the city's strongest waterfront premium tier and the new-build phases adding further apartment volume since 2018. The third is the inland Victorian and post-war terrace stock running north from Union Street towards the city centre, where the area transitions into the inner-city belt at Pennycomequick. The Cremyll passenger ferry runs from Admiral's Hard at the western end of Durnford Street across to Mount Edgcumbe on the Rame Peninsula.
Sold-data signal
Property market in Stonehouse.
Stonehouse sits inside PL1, where the postcode-area median is around £176,500, but the area's split between regeneration premium and inland terrace stock spreads transactions widely. Royal William Yard apartments range from £225,000 for one-bed conversions to £750,000 and above for larger three-bed waterfront units in the listed buildings. Georgian period stock on Durnford Street and Emma Place trades between £280,000 and £600,000 depending on size, frontage and condition. Inland Stonehouse terraces around Wyndham Square and Octagon Street trade in the £140,000 to £240,000 band, lower than the waterfront premium. Recent PL1 sales we track include a Richmond Walk flat at £271,000, a Stuart Road flat at £125,000 and a Hotham Place terrace at £240,000.
Property type split in the Stonehouse footprint is dominated by flats, with conversion apartment stock at Royal William Yard and Georgian flat conversions accounting for the bulk of the residential volume, terraced houses forming the secondary component, and very limited semi or detached stock. Most bridging deals here sit between £180,000 and £550,000, with the larger Royal William Yard and Durnford Street townhouse cases reaching £750,000.
Deal flow
Bridging activity in Stonehouse.
Three deal types dominate Stonehouse bridging. First, development-exit bridging on the Royal William Yard apartment programme and the small infill schemes that have come forward around the regeneration site. New-build and converted apartment blocks reaching practical completion are refinanced off development facility onto a cheaper 6 to 12-month bridge while units market, with the bridge cleared as flats sell or as the block refinances to a residential investment term loan. Loan sizes £1 million to £4 million, rate 0.85 to 1.05% per month, LTV 65% against gross development value.
Refurbishment bridging on Georgian period stock
refurbishment bridging on Georgian period stock. Sympathetic restoration of Durnford Street and Emma Place townhouses, often converting from larger family homes back to multiple-flat layouts or restoring single-dwelling use from existing conversions, sits on 12 to 18-month bridges at 0.85 to 1.15% per month. Common works are sash-window restoration, listed-building consent for kitchen and bathroom upgrades, and reconfiguration of awkward Georgian layouts to modern owner-occupier or BTL standards.
Mixed-use and commercial bridging on Union Street
mixed-use and commercial bridging on Union Street and the western end of the city-centre corridor. Union Street has carried a long evening-economy retail and hospitality character, with regeneration ambitions under the Plan for Plymouth lifting investor interest in upper-floor conversion to residential. Loan sizes £350,000 to £750,000, term 12 to 18 months, rate 0.95 to 1.15% per month, exit on portfolio investment refinance or sale of the residential element.
A fourth recurring stream is chain-break bridging
A fourth recurring stream is chain-break bridging for owner-occupiers trading between Royal William Yard apartments or moving up from a Stonehouse flat to a larger Hoe or Mannamead home. These regulated cases pass to our regulated partner firm at 0.55 to 0.65% per month, term 6 to 12 months. A fifth stream is below-market-value purchase finance, with off-market Stonehouse Georgian terraces sold through probate or distressed-sale routes regularly coming to us at 75 to 85% of open-market value, funded as day-one bridges at 75% of purchase price with a clear refinance route mapped at offer stage.
Streets and postcodes
Named streets we work across.
Stonehouse covers parts of PL1 3, PL1 4 and PL1 5.
Postcode areas
Streets in our regular bridging flow (17)
Read the full Stonehouse geography note ›
Stonehouse covers parts of PL1 3, PL1 4 and PL1 5. Named streets in the regular bridging flow include Durnford Street running the length of the Georgian quarter, Emma Place, Wyndham Square, Octagon Street, Edgcumbe Street, Caroline Place, Admiralty Street, Cremyll Street, Battery Street, High Street running parallel to Durnford, Stonehouse Bridge connecting to Devonport, Union Street as the northern spine into the city centre, Manor Street, King Street, Phoenix Street, Stoke Road climbing north towards Stoke and Pennycomequick, Western Approach on the eastern edge, and the Royal William Yard frontage at Cremyll Street and Brewhouse. Recent PL1 sold-data points include Richmond Walk at £271,000 and Stuart Road at £125,000, indicative of the spread between an inland Stonehouse flat and a Royal William Yard-adjacent waterfront apartment.
Demand drivers
Transport and rental demand.
Stonehouse has no railway station of its own, with Plymouth station at North Cross a 20-minute walk or a 5-minute bus ride away. The Cremyll passenger ferry runs from Admiral's Hard at the western end of Durnford Street to Mount Edgcumbe Country Park on the Cornish side of the Tamar, providing a 10-minute crossing for pedestrian and cyclist commuters. Bus routes 34, 35 and 25 run along Union Street and Stoke Road, connecting Stonehouse to the city centre, Devonport and Stoke. The A374 lifts onto the A38 Devon Expressway at Marsh Mills.
Demand drivers are the Royal William Yard regeneration as the city's most prominent waterfront-leisure destination, with restaurants including Wildwood, Le Vignoble and Las Iguanas, the Ocean Studios creative workspace, the Royal William Yard apartments themselves driving owner-occupier and investor demand, the Cremyll ferry link to Mount Edgcumbe lifting tourist and short-let appeal, the proximity to the city centre and the University of Plymouth supporting compact-flat rental demand, and the Plan for Plymouth's emphasis on Union Street regeneration feeding longer-term investor confidence in upper-floor conversion stock. The defence and naval employment pool centred on HMNB Devonport, immediately west across Stonehouse Creek, supports both rental and owner-occupier demand for Stonehouse stock. Stonehouse Park, Devil's Point at the waterfront and the Edgcumbe Belvedere add green-space appeal that lifts the residential market through the cycle.
Recent work
Our work in Stonehouse.
Recent Stonehouse bridging includes a £2.4 million development-exit bridge on a 12-unit waterfront apartment scheme reaching practical completion at Royal William Yard, 9 months at 0.95% per month and 65% LTV against gross development value of £3.7 million, with five units pre-reserved and seven marketing at drawdown, exited as units sold through the marketing period. We also funded a £385,000 refurbishment bridge on a four-storey Durnford Street townhouse, 15 months at 1.05% per month and 65% LTV, with works including listed-building consent for kitchen and bathroom upgrades, sash-window restoration and rear-courtyard reconfiguration, exited to a residential remortgage at £495,000 valuation. A mixed-use case arranged a £515,000 bridge on a Union Street retail-with-flats-above building, 15 months at 1.05% per month, with the upper-floor flat conversion programme exiting to a portfolio BTL refinance. A fourth case funded a £295,000 chain-break bridge for an owner-occupier moving from a one-bed Royal William Yard apartment to a larger Mannamead family home, passed to our regulated partner firm at 0.65% per month for 9 months.
Land Registry, recent sold prices
Stonehouse sold-price evidence
The most recent registered transactions across the PL1 postcode area, drawn from HM Land Registry Price Paid Data. Underwriters and valuers work from this evidence on every Stonehouse bridge we arrange.
PL1 median
£176,500
| Date | Street | Postcode | Type | Sold price |
|---|---|---|---|---|
| Mar 2026 | Exmouth Road | PL1 4QJ | Flat | £165,000 |
| Mar 2026 | North Road West | PL1 5DF | Flat | £130,000 |
| Mar 2026 | Richmond Walk | PL1 4DQ | Flat | £271,000 |
| Mar 2026 | Citadel Road | PL1 3AU | Flat | £155,000 |
| Mar 2026 | Hotham Place | PL1 5NE | Terraced | £240,000 |
| Mar 2026 | Stuart Road | PL1 5LG | Flat | £125,000 |
Source: HM Land Registry Price Paid Data, last refreshed for the Plymouth network in the trailing 24-month window. Bridging facilities are priced against the open-market value at the time of underwriting, not at the historic sold price.
Plymouth coverage
Where we work across Plymouth.
Stonehouse sits inside a wider Plymouth bridging book. Click any marker to step into another area we cover.
FAQs
Stonehouse bridging questions
Can you bridge a Royal William Yard apartment with a short lease?
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Yes, with conditions. Most bridging lenders need at least 70 to 75 years unexpired on the lease at the end of the loan term, which means a Royal William Yard flat with 85 years or more is straightforward. Below that we move to a narrower lender shortlist, sometimes funding the lease extension premium as part of the bridge itself with the exit landing on a refinance once the extension is registered. The listed-building status of the converted Yard blocks does not stop a bridge.
Is dev-exit pricing competitive against staying on the development facility?
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Yes, typically. Dev-exit bridges price at 0.85 to 1.05% per month, against development-facility carry costs often running 1.25 to 1.5% per month once the build phase is complete. The step-down delivers monthly carry savings that more than cover the arrangement fee within three to four months. We model the savings in the indicative-terms letter so the borrower can see the maths against the existing facility.
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