^{Source: Savills Research}

■ Another notable deal which completed was the purchase of The Rex Building, EC4 for £68.83m, 4.35% and £856/sq ft. Axa bought the 80,411 sq ft building from Aberdeen Asset Management, which is predominantly let to Gartmore until 2025 at an overall passing rent of £40/sq ft.

■ As expected, we have seen the introduction of a number of investment opportunities recently. We are now tracking 43 buildings being marketed for sale across the City and the Docklands.

■ Notable examples include, Devonshire Square, EC2 quoting £550m (4.94%, £875/sq ft), Aldgate Tower, E1 quoting £350m (4.75%, £1,102/sq ft), and 33 Old Broad Street, EC2 quoting £250m (3.57%, £1,308/sq ft).

■ In addition to these properties currently available we are aware of a further 17 buildings that are under-offer in the City.

■ So far this year, UK purchasers have accounted for the greatest amount of turnover at £2bn (31%) over 56 deals. Asian purchasers have accounted for £1.9bn (29%) across 12 deals, whilst purchasers from the US have accounted for £1.2bn (19%) across 13 deals (Graph 2).

^{Source: Savills Research}

■ On transactions over £100m within EC1, EC2, EC3 and EC4 this year, the average capital value is £774/sq ft, with a yield of 5.00%. Within the same parameters last year, the average yield remained the same, however the average capital value was signifcantly higher at £930/sq ft.

■ IPD average equivalent yield was 5.6% at the end of September, down from 6.1% at this point last year. Furthermore, Savills prime yield remains at 4%, which is an all time record low (Graph 3).

^{Source: Savills Research, IPD}

^{Source: Savills Research}