Britain’s £700bn commercial property market will have lost about 12% of its value between September and the new year, marking the bottom of the market and triggering a new wave of buyers next year, one of Britain’s largest property fund managers said yesterday. The Times

Schroders, which has £10bn of offices, shops and warehouses under management, is the first big property investor to call the bottom of the commercial property market.

Last week it slashed the value of its flagship £2bn unit trust fund by one eighth from its September valuation.

Further price falls are not expected thanks to strong demand from occupiers across the retail, industrial and regional office property markets, particularly the M4 corridor.