With an increasing number of investment options now closed off, investors are turning their attention to opportunities in the commercial property sector. Advisers say there is a lot of interest in investing in office and retail property, with groups of investors pooling their funds to buy into developments.

Typically, three or four would get together with a view to buying an office development. If, for instance, it cost £500,000, they would chip in £25,000 each to make up the equity and borrow the rest, offsetting interest charges against tax.

Others are seeking out opportunities in the British and French markets, with opportunities in France looking relatively more attractive.