Nicola Sturgeon’s threat of a second independence referendum is inflicting more damage than Brexit on business demand for office, factory and shop space in Scotland, chartered surveyors have warned.

A major report by the Royal Institution of Chartered Surveyors (RICS) found that Scotland experienced the largest drop in demand for commercial property of anywhere in the UK in the three months following the EU referendum vote.

A series of Scottish surveyors blamed the slump on Ms Sturgeon’s threat of a second independence referendum, which she said was “highly likely” in the hours following the June 23 Brexit result.

One said this was “having a more detrimental effect” on the market than Brexit itself, another complained that the SNP had added to the uncertainty and a third said the “biggest problem” in Scotland was the prospect of an independence vote.

While business demand for premises rose across the whole of the UK between July and September, in Scotland 24 per cent more surveyors reported a drop in demand than said there had been an increase.

Central London and Scotland are the only two areas of the country where rents are not expected to increase thanks to demand levels. Foreign investment inquiries were down for a second successive quarter north of the Border.