Rental yields for retail properties fell for the first time in more than seven years in July, new figures from CB Richard Ellis show.

While most areas of the commercial property sector have recorded declines in both capital values and rental returns over the 12 months since the credit crunch kicked in, retail properties have been largely immune as discounts have encouraged consumers to carry on spending.

However, the latest market report from the property group points to falling returns even in this area and though no specific figures for retail were given, it was confirmed that capital values across the commercial property sector as a whole fell by 9.2% over the first seven months of 2008.

These latest statistics will go towards next week's report from the Investment Property Databank, which sets a benchmark for the sector.

At the same time, fellow commercial property firm British Land has signalled that its planned 'cheese grater' Leadenhead skyscraper in the City of London may be put on hold for at least a year due to developments in the markets.