^{Source: Savills Research}

■ 0.8m sq ft is currently under-offer and so take-up in the West End looks set to the exceed the record 4.34m sq ft of take-up recorded in 2015.

^{Source: Savills Research}

■ The largest transaction of the month saw Dentsu Aegis Network pre-let the entire 310,000 sq ft at British Land's 1 Triton Square, NW1 with the terms confidential.

■ Elsewhere, The Boston Consulting Group pre-let floors 5-8 at 80 Charlotte Street, W1 totalling 123,500 sq ft on a 15-year lease at a rent of £85.83 per sq ft. Arup who had already committed to floors 1-3 also took up on option to acquire 19,800 sq ft on the 4th floor.

■ We have recorded 11 pre-lets so far this year totalling 1.25m sq ft (31% of take-up).

■ The prevalence of pre-lets, particularly for larger requirements is unsurprising with just three properties currently available in the West End offering 100,000 sq ft or greater.

■ September also saw WeWork acquire floors 1-3 at 12 Hammersmith Grove, W6 totalling 52,837 sq ft on a 20 year lease at a rent of £55.00 per sq ft. Following the transaction WeWork has now acquired 507.616 sq ft in the West End this year.

■ At the end of Q3, the Tech & Media sector remains the most active business sector in the West End, accounting for 32% of 2017's take-up. Serviced Office Providers have been the second most active sector, accounting for 19% of this year's take-up, with the Insurance & Financial Services sector third at 12%.

■ Total West End supply fell 3.7% in September to 4.67m sq ft. This resulted in the vacancy rate falling another 10bps to 3.9%. 75% of supply is of a Grade A standard while 27% is tenant controlled.

■ The average prime rent at the end of Q3 was £116.43 per sq ft, 5% above end 2016's average prime rent of £110.22 per sq ft. Similarly, the average Grade A rent at the end of Q3 was £79.60 per sq ft, 3% above 2016's average Grade A rent of £77.25 per sq ft. In contrast, the average Grade B rent was £59.63 per sq ft, 2% below 2016's average Grade B rent of £61.07 per sq ft (Graph 2).

■ The average rent free period on a straight 10-year lease remains at 20 months.

^{Source: Savills Research}

^{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 for preceding three months}