Rob Bould, head of investment at GVA Grimley said: "There hasrarely been a better time to put money into bricks and mortar--ifyou can find the stock.

"While occupational demand--and therefore rental growth--hasbeen weakened by the recent downturn in the global economy, thesheer weight of money from private investors, institutions andoverseas funds is driving yields down to a level which looksunrealistic - unless you compare the returns to alternativeinvestment classes."

Although current published forecasts indicate total returns fromproperty of 7-8% by the end of this year, Bould is more bullish.Based on his experience of the market--including the fact thatexceptional demand from investors is pushing most major propertydeals to best bids--he strongly believes that total returns forcommercial property by the year end will be in excess of 10%. Thiscontrasts with current returns on cash (4%), gilts (3%) andequities (-12%).