^{Source: Savills Research – accurate to end of Feb 17}

■ A notable deal from February saw JMI Properties acquire Whitefriars, 65 Fleet Street, EC4 for £160m, 5.56% NIY and £697/sq ft. The building is fully let to Freshfields Bruckhaus Deringer LLP until August 2021, at which point they will then move into 100 Bishopsgate, EC2.

■ Also in February, a private Hong Kong investor acquired the two adjoining buildings 110 Cannon Street, EC4 & 5 Martin Lane, EC4 for £93m, 4.7% NIY and £890/sq ft. The buildings are multi-let to tenants including Operis Group Plc, Fixi Plc and MGM Advantage with a WAULT of 4.39 years.

^{Source: Savills Research – accurate to end of Feb 17}

■ As of the end of February, UK purchasers have been the most active accounting for 41% of turnover by volume across nine deals. They are closely followed by Asian purchasers (40% across four deals), US purchasers (17% across two deals) and Middle East purchasers (14% across one deal).

^{Source: Savills Research – accurate to end of Feb 17}

■ Savills prime City yield has been reduced to 4.00% against a background of investor demand outstripping current supply. The spread between the City and the West End is now just 75bps with the West End prime yield currently at 3.25%.

■ GBP short-term market interest rates remained relatively static: three montth closed at 0.36% (0bp) and six month closed at 0.51% (-2bp). Fixed term rates (longer than one year) ended lower than last month, five years closed at 0.79% (-25bp) while 10 years closed at 1.18% (-28bp). 10-year UK Gilt benchmark closed at a yield of 1.15% (source: Pegasus Capital).

^{Source: Savills Research}