^{Source: Savills Research}

■ Biosciences was by far the most active business sector during 2015, accounting for 34% of take up. Extraction and Utilities was the next busiest business sector, accounting for 17% of take up.

■ The key deal during 2015 was the 67,000 sq ft prelet to Adaptimmune at Milton Park during Q4, whilst Schlumberger also pre-let 44,000 sq ft in Milton Park during Q3.

■ Supply saw a slight increase during 2015. Total supply now stands at 624,000 sq ft, with a number of locations now having a severe supply shortage of Grade A space.

^{Source: Savills Research}

■ An example of diminishing Grade A space is at Oxford Science Park where there is now no space remaining.

■ Other developers should now start to take note of Harwell Science Park's lead as demand remains strong for business parks and Grade A space will continue to diminish. Rents will continue to rise.

■ There is still an over-supply of secondhand space, however, office to residential conversions have helped bring down the supply levels in the office market. This has been witnessed over a number of secondhand office buildings, which has been particularly prevalent in Banbury.

^{Source: Savills Research}

■ Rents as at end 2015 reached £26.50 per sq ft outside of the city, and grew to £24.00 per sq ft in the city centre, up from £25.00 per sq ft and £21.00 per sq ft respectively during 2014.

■ Investment in the Oxford office market reached £74m during 2015, the highest level since 2009. The key deal recorded was Aviva Investor's purchase of Building 9600, Oxford Business Park for £19m, representing a yield of 6%.

^{Adaptimmune have prelet a 67,000 sq ft purpose built laboratory at Milton Park, setto complete during 2016.}

Outlook

■ There are no new buildings in the office or laboratory market in the Greater Oxford, Abingdon, Didcot and Bicester area and yet there is growing demand for such facilities.

■ 28,900 sq ft of space is set to complete at Harwell Science Park during 2016, with business and science parks outside the city centre expected to see strong rental growth over the next few years.

^{Isis Innovation, the University of Oxford's technology and consulting company has relocated to Buxton Court, Oxford.}

^{Source: Savills Research}

■ During 2016, Savills expect rents to remain at £26.50 per sq ft outside the city centre and rents to rise to £25.00 per sq ft in the city centre.

■ After two bumper years, take up in 2016 is expected to end the year at 190,000 sq ft, 21% down on 2015, but still in line with the long term average.

^{Source: Savills Research}

^{Source: Savills Research}

^{Source: Savills Research}