Hi Nick, if you are looking at investing in Commercial Property in Singapore for a long term return, Singapore is a safe environment that doesn't have political upheavals that may upset investor sentiment and stock markets. That's why many individuals who want stability come to Singapore (where very little upheavels happen).

The residential property market is still priced on the high side right now, and it is not suitable to buy for investment. Commercial (office space and retail), still has quite a bit of pent-up demand. Government offices and departments are recommended to minimise their use of office space and make way to rent out to commercial entities (especially their offices in the prime CBD area). With your 50K pounds, it makes out to about S$150,000 (sg dollar), which is a fair amount in getting a 99 leasehold office space.
You can also get loans here. Office rents have gone up about 4-5% in the last Qtr 2008.
Still a valid investment in Commercial property in Sg in my opinion.