■ Currently in the City market we are aware of c. £3.70bn of available stock, 55% of which has been launched to market since April, the most notable being 30 Gresham Street, EC2 for £425m.

■ In the largest deal to date in 2018, Mirae Asset Management acquired the freehold interest in 20 Old Bailey, EC4 for £341m reflecting a net initial yield of 4.20% and a capital value of £1,419 per sq ft. The property was comprehensively redeveloped by Blackstone in 2017, and pre-let to internationally recognised tenants including Barings and Wilthers LLP. The 240,319 sq ft property was let at an overall rent of £61.19 per sq ft with a WAULTC of 13.6 years. This was Mirae’s second acquisition this year, following their acquisition of Cannon Bridge House in March.

■ In perhaps the most high profile acquisition of 2018, the People’s Republic of China acquired the freehold interest in Royal Mint Court, EC3 for in excess of £200m. The 5.4 acre site is located opposite the Tower of London World Heritage Site. Planning consent was granted in 2017 for a comprehensive redevelopment of the site to provide c. 600,000 sq ft of office accommodation and a 1.8 acre landscaped public realm.

■ In an off market transaction Carlyle Group acquired the freehold interest in The Crosspoint, 34-37 Liverpool Street, EC2 for £43m reflecting a capital value of £1,040 per sq ft. The property was developed in 2017 by Amsprop to provide 41,340 sq ft of office accommodation and was sold with vacant possession. We understand Carlyle will occupy the property as part of their serviced office business.

■ The acquisitions of Royal Mint Court and Crosspoint, highlight a continuing trend of owner occupiers, and is the sixth acquisition by this buyer group already this year, accounting for 18% of total volume. Since 2017 we have seen this group significantly increase their standing in the market with a total volume last year of £964m across 15 transactions. The interesting development is owner occupier's ability to now acquire larger sized assets, with the group traditionally acquiring smaller vacant buildings. However the acquisition of The Devonshire Square Estate by WeWork and 33 King William Street by Wells Fargo, highlight clearly their standing as a viable purchaser for properties above the £50m lot size.

■ Private investors continue to lead the buyer profile comprising up 29% of total volume for the year, followed closely by Institutional Investors (28%) and Property Companies (24%).

■ Savills Prime City yield remains at 4.0% which compares with the West end prime yield of 3.25%. The City of London and docklands continue to look attractive in comparison to other major European cities where prime yields are keener than 4.0% (see graph below).