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The first property, Red Square, is a newly constructed office development in Neu-Isenburg, close to Frankfurt airport, and was purchased for €45.28m (£36.06m).

The second property, Bam Huis in The Hague, was purchased for €16.2m (£12.90m).

According to Swip, the European real estate market is forecast to achieve average total returns of 5.2 per cent per annum for the major Western European office markets (excluding the UK) over a five year period from the end of 2008.

Robert Matthews, head of international property at Swip, said: "The two purchases are a valuable addition to Swip’s European property portfolio.

"Our decision to increase our weighting towards office property in Germany and The Netherlands reflects our view that these will be among the strongest office markets in Western Europe over the next five years.

"A key feature of the European property market over the next 12 months will be a flight to quality, with investors favouring larger, more liquid markets such as Germany, which offers liquidity with fewer economic downside risks."

Swip has over €9.2bn (£7.3bn) invested in commercial property across the UK, Europe and North America and has a property team consisting of 28 investment professionals.