^{Source: Savills Research}

■ The relatively slow start to 2018 is not a trend we expect to continue through Q1, shown clearly by the uptick in the number of new transactions coming to the market, with c. £1.7bn being formally launched to the market so far this year. Furthermore we are aware of approximately £2.7bn worth of transactions currently under offer in the City Market, of which c.£500m has been placed under offer since the start of the New Year.

■ On behalf of a private investor Savills advised on the sale of 5 Chancery Lane, EC4 for £76m, 4.93% NIY and a capital value of £896 per sq ft. The freehold property was single let to Lewis Silkin LLP on a lease to expire March 2023. The property benefitted from a feasibility study by BuckleyGrayYeoman which identified the potential to increase the existing net internal floor area to 95,766 sq ft, through a comprehensive refurbishment and extension of the Property (subject to gaining the necessary consents).

■ Another notable transaction in January, saw Hao Tian acquire 55 Mark Lane, EC3 for £130m, 5.05% NIY and a capital value of £800 per sq ft, from part-owner occupier Reignwood Group. The freehold property was multi let to nine office and retail tenants and had a weighted average unexpired term of 4.9 years to breaks.

■ To date in 2018, Asian and UK investors have dominated the market with three transactions each, with investors from these countries accounting for 53% and 47% of total turnover respectively. The mix of vendors selling has been more varied with UK investors leading the way (36%) with Asian (29%) and European (30%) vendors close behind.

^{Source: Savills Research}

■ Savills prime City yield remains at 4.00% for the twelfth consecutive month, this compares with the West End prime yield of 3.25%.

^{Source: Savills Research}

^{Source: Savills Research}