At the end of October, total UK commercial real estate investment volumes reached £44.7 billion for the year-to-date, up by 15 per cent on the same point in 2019 and 29 per cent on 2020, according to property specialists Savills.

In its November Commercial Market in Minutes report, Savills said that full-year investment in the UK industrial and alternative sectors is set to exceed both the five and 10-year averages.

The former has already seen transaction volumes reach £12.8 billion in the year to date, already exceeding the long-term annual average by 97 per cent.

Savills all-sector UK prime average commercial property yield remained at 5.04 per cent at the end of October, however with downwards pressure in four sub-sectors it is expected to harden before the end of the year.

James Gulliford, joint head of UK investment at Savills, said: "The final quarter of the year is traditionally the most active for investors, and with pent up demand finally having been unleashed in the second half of this year we're expecting a lot of yield movement in the final couple of months.

"We said last month that we expect total UK volumes will hit £50 billion by the end of 2021, and we're seeing nothing in the current figures that has made us re-think that position."