^{Source: Savills Research}

^{Source: Savills Research – data accurate to end of July 2017}

■ A notable transaction to complete in July saw Withers acquire 57,491 sq ft across levels ground, three and four at 20 Old Bailey, EC4. Blackstone have already agreed a deal with Barings to take 113,000 sq ft.

■ Also in July, Kobalt Music acquired 40,356 sq ft at The River Building, EC4 across the second floor. They have taken the space on confidential terms and now join Deliveroo who signed for the first floor in November last year.

■ In the year to the end of July, the Tech & Media sector accounted for the greatest proportion of take-up at 24%. This is followed by the Professional services sector at 17%, and the Insurance & Financial services sector at 12%. There has been continued strong activity from Serviced Office Providers who have accounted for 8% of take-up to-date.

■ Total City supply stood at 7.5m sq ft at the end of July, equating to a vacancy rate of 6.0%, up on this point last year by 80 bps, however still down on the 10-year average by 60bps.

■ There is an estimated 5.8m sq ft of refurbishments or developments anticipated to arrive to the market in 2018. However, 47% of this already either pre-let or under-offer. This leaves just 3.1m sq ft of available space, with the largest total availability being found at 60-70 St Mary Axe, EC3 with 326,000 sq ft.

^{Source: Savills Research – data accurate to end of July 2017}

■ For the year to date, 37% of the known rents have been in the £60 - £69.99/sq ft band. This is up on last year and 2015 where this rent band accounted for 36% and 19% respectively.

■ Total City & Central London demand is 8.9m sq ft, which is 1% up on the long-term average, but 3% down on the 12-month average. Circa 36% of the total demand has been known about for over 12 months.

Analysis close up

^{Demand figures include central London requirements}

^{Completions due in the next six months are included in the supply figures}

^{*Average prime rents for preceding three months}

^{** Average rent free on leases of 10 years with no breaks for preceding three months}

^{N.B We have amended our historic stock figure, resulting in a slight change of our historic vacancy rates (Aug 2015)}

^{Source: Savills Research}