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Dytor, who is also managing director of Regeneration Investments, launched the firm a few weeks ago with an anonymous partner who he described as 鈥渟omeone who鈥檚 been involved in major regeneration schemes鈥�.

He said the firm, called Land Regeneration Partnerships, was in talks with landowners and public sector bodies over schemes that need to be changed to reflect the change in land values.

Alterations could include reducing density or redesigning schemes. 鈥淲ith land values coming down you can have larger units,鈥� he says. 鈥淲hy not bring on board public sector facilities into these developments and get cross-subsidy?鈥�

He added that the firm might wait after getting planning consent to begin developing. 鈥淲e won鈥檛 be delivering these products now, because funding is difficult, but we plan to have consent in place for when the market recovers.鈥�

Dytor predicted that a large part of the property market, particularly retail, would face trouble in the coming months, but said developers that were unburdened by debt would become active again.

He added that his infrastructure regeneration fund, Ithaca Capital Partners, will return to the market to raise funds 鈥渁t the appropriate time鈥�.