Banks' reluctance to lend to the collapsed commercial real estate sector has fallen to a new low, with just one-quarter of property lenders open to new business while there is no new lending of deals above £50m (€53m).

According to a survey of 83 lenders by the corporate finance team of property consultant, Cushman & Wakefield, only 27% of respondents said they were lending to new and existing business, while a further 14% said they were only lending to existing clients.