■ The latest indicators from the recently launched Savills ProgrammE and Cost Sentiment Survey (S.P.E.C.S) demonstrate that build costs and programme delivery time scales have had an upward pressure throughout 2016.

■ Given the fact that occupier demand is so strong and skewed towards the build to suit market, along with strong developer demand for speculative units. Savills Building & Project Consultancy are seeing build costs increases in the following size ranges; 100,000–200,000 sq ft at £42–£48/sq ft and 400,000–600,000 sq ft at £33–36/sq ft.

■ Into 2017 we expect this upward pressure on costs to increase as the price of imported raw materials rises and a lack of contractor availability increases labour costs.

^{Source: Savills S.P.E.C.S}