^{Source: Savills Research}

^{Source: Savills Research}

■  Unsurprisingly, due to the pre-let at 1 Rathbone Square the TMT sector dominated take-up in September 2015, accounting for 61% of the total floor space let. The Business & Consumer Services sector was the next most active accounting for 17% of take-up, followed by the Insurance & Financial Services sector which accounted for 12%.

■  Five pre-lets have been completed so far in 2015, totalling 525,488 sq ft. This is significantly lower than the 12 pre-lets that had been completed by Q3 in 2014 and 14 by year end.

■  The strain on West End Supply is yet to be alleviated with total supply at the end of September standing at 3.2m sq ft, a decrease of 2% on August 2015. This equates to nine months supply based on current take-up figures. 80% of the current supply is of a Grade A standard.

■  The lack of available floor space has continued to place significant upward pressure on rents. The highest rent achieved in September 2015 was at 8 St James’s Square, SW1. Point72 took 7,116 sq ft on a 10 year lease at a rent of £147.50 per sq ft.

■  The average prime rent in Q3 2015 stood at £106.91 per sq ft, up 10% on the £96.58 per sq ft at the end of Q2. Similarly, average Grade A rents stood at £75.67 per sq ft at the end of Q3 up 9% on the £70.05 per sq ft seen at the end of Q2. Grade B rents also followed the upward trend increasing 19% from £46.74 per sq ft at the end of Q2 to £57.28 per sq ft at the end of Q3.

^{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 five years for preceeding three months}

^{Source: Savills Research}