Another two property deals worth £600m have fallen through, bringing the tally of aborted UK commercial transactions over the past week to more than £2.5bn as the credit crisis takes its toll on the market for offices, shops and industrial warehousing.

HBOS has withdrawn an indicative offer made last month for Erinaceous, which gave the quoted property services group a market value of £320m, according to a report by The Times newspaper, adding that, including debt, the company could have been worth £470m.

In a separate move, the owners of The Mailbox and the adjoining Cube scheme in Birmingham have taken the properties off the market. They were put on sale at up to £330m in April, but buyer demand has evaporated over the past few weeks because of higher borrowing costs.

The collapse of these two deals are accompanied by HBOS’s decision to shelve an offer of over £1bn for property developer Quintain, and the owners of the Pallestra building on the South Bank in London deciding to withdraw the £210m property from the sales market, with the owners blaming ‘softer markets’.