Dawnay Day Treveria, a company that has been set up with the sole intention of investing in German commercial property, has announced that it plans to float on Londons stock exchange in an attempt to raise as much as 350-450 million Euros.

"They have got a very substantial pipeline (of investment projects) and in order to fund that they need several hundred million Euros of equity," a source close to the transaction said.

The source added: "There is a very big first-mover advantage because there are no other public vehicles out there that allow you to invest in German property."