^{Source: Savills Research}

■ Interestingly, the TMT sector have accounted for the greatest amount of take-up so far this year (22%), compared with the traditional principal occupier, the Insurance & Financial Services sector, who have accounted for just 8%. Moreover, we are seeing growth within the Banking sector who have accounted for 12% of take-up so far this year.

■ City supply has remained steady on last month standing at 6.7m sq ft at the end of February. This consists of 87% of grade A space, producing a vacancy rate of 7%.

■ There is currently 2.1 million sq ft of space under-offer, with 325,213 sq ft going under-offer in February.

■ Encouragingly, the City has seen a recent surge in requirements with current total demand (active & potential) figure standing at 10.1 million sq ft (Graph 1). This is up on the 12-month average by 13%, and should translate into steady take-up for the City market.

click on image below to enlarge

^{Source: Savills Research}

■ The top rent for February was £64 per sq ft, where Pantheon acquired the 6th floor at 10 Finsbury Square, EC2.

■ The average grade A rent for February was £53 per sq ft, which is actually the highest average grade A rent for an individual month since October 2013. Moreover, the 2015 average grade A rent for the City as a whole is £50.35 per sq ft, which is 6.3% up on the same period last year.

■ The 2015 average grade A rent for the City Core is £54.25 per sq ft, which is 5.7% up on the 2014 figure (£51.33) (Graph 2).

click on image below to enlarge

^{Source: Savills Research} 

Analysis close up

^{Completions due in the next six months are included in the supply figures}

^{*Average prime rents for preceeding three months}

^{** average rent free on leases of 10 years for preceeding three months}