Paul Orchard-Lisle, the former chairman of Slough Estates, is to become the latest property veteran to launch new opportunity funds, meaning that £700m has been earmarked for ventures over the past seven days.

Orchard-Lisle, who plans to raise £200m, follows in the footsteps of Nick Leslau and Leo Noe in seeking to take advantage of the bombed out sector.

The proposals will spark expectations that the troubled commercial property market is close to the bottom.

Values have fallen more than 40% in the UK from their peak in summer 2007 amid a lack of available credit and tumbling demand for business space.

Daily Telegraph