Total take-up is currently 18% up on this point last year.

■ The strong leasing activity seen in the West End last year has continued through into 2015. February take-up reached 339,392 sq ft, bringing the year to date total to 615,511 sq ft, 18% up on this point last year.

■ The majority of transactions have occurred in the <10,000 sq ft size band, accounting for 83% of transactions in February. Over half of these transactions took place in the North of Oxford Street and Mayfair sub-markets.

■ The largest transaction to complete in February was the letting of 28,000 sq ft at Michelin House, SW3 to London Executive Offices. Rising demand from serviced office providers is a trend emerging across central London as a whole.

■ The highest reported rent to date this year, is £110 per sq ft, achieved at Devonshire House, Mayfair Place, W1 in January. Nevastar Finance Ltd took 3,400 sq ft on the third floor on a 10-year lease.

■ Currently, total supply is 4.2 million sq ft, of which 74% is of a Grade A standard. This equates to a vacancy rate of 3.5%. We expect there to be a slight rise in the available supply, with an anticipated 2.4 million sq ft of new developments and refurbishments scheduled to complete in 2015.

■ Current demand at 2.4 million sq ft, is the highest since October 2014. Although down by 7% on the 12 month average, this is expected to pick up as the year progresses.

■ The TMT sector continues to be the dominant business sector, accounting for 33% of take-up to date. This is followed by the Insurance and Financial Services sector and the Business and Consumer Services sector, which have both accounted for 14% of the take-up.