■ The surge in demand has been noted across most regions that Savills monitor. Only the North West has seen a small decline in the area of space transacted, however it should be noted there has actually been a 10% increase in deal volume.

■ Given the strong take-up and muted speculative development it should come as no surprise that supply remains critically low at just 27.6m sq ft.

■ We do not anticipate a surge in supply given the fact that just 17 units are currently under construction across the country; combined this is just 3m sq ft, even taking this development pipeline into account there is less that a year's worth of supply in the market.

■ The continued strength of the occupational market has rippled through into the investment market with £2.6bn of capital invested in the sector in 2016. Whilst our prime yield has moved out by 50bps in 2016 to 5% activity in the fourth quarter has put a renewed downward pressure on yields into 2017.