The time has come for investors to start buying bombed-out commercial real estate, according to Tim Brown, head of strategy at wealth adviser Jewson Associates.

He said: "Values in the UK have fallen 42% from their peak in June 2007. Property yields which were below government bond yields in 2007, now stand at a significant premium. For the patient long-term investor with no liquidity constraints now is the time to consider increasing exposure to the sector."