^{Source: Savills Research}

■ The professional sector was the most active business sector during the first three quarters of the year, accounting for 25% of take-up, followed closely by the TMT sector (21%).

■ 2016 has been driven by a high proportion of smaller deals. Deals under 5,000 sq ft have accounted for 43% of total take-up, above the five-year average of 36%.

■ Availability of Grade A space in the city centre rose by 3% in the third quarter and we expect this to continue to tick up as new developments come on stream.

^{Source: Savills Research}

■ Looking forward, Savills expect top rents to remain around the £34 per sq ft mark, with a rise in average rents as refurbished space is delivered.

^{Source: Savills Research}

■ Office investment in Manchester reached £551m at the end of the third quarter of 2016, a 6% increase over the same period during 2015 and 16% above the five-year average for this stage.

■ Overseas investors accounted for the highest proportion of office investment during 2016, reaching £377m and the highest level of investment for this stage in the year since the record £442m in 2007.

■ An example of this was Deka Immobilien's acquisition of One St Peter’s Square (pictured below) via the owning joint venture vehicle from Argent and The Greater Manchester Property Venture Fund, for £164m.

■ The highly specified development was completed in September 2014 and totals circa 288,000 sq ft of Grade A space. The property is currently multilet and current tenants include KPMG, DLA Piper, Addleshaw Goddard and Mazars, along with Drake & Morgan and Fumo in the retail units.

^{Source: Savills Research, Property Data}

■ Prime yields currently stand at 5%. This marks a 25 basis points outward movement since the end of 2015.

■ Aside from the prime end of the market, there remains strong investment demand for lot sizes from £5m to £50m with asset management potential.

^{Source: Savills Research}

^{▲ One St Peter's Square, Manchester}