Take-up of London office space in July 2017 was 1.3 m sq ft, 26% above the 10-year monthly average, according to figures released today from Global real estate advisor CBRE.

The largest transaction of the month was at 21 Moorfields, where 549,900 sq ft was pre-let off plan. Availability fell from last month, decreasing by 1%, to stand at 14.0m sq ft, below the 10-year average of 14.7m sq ft.

The banking and finance sector represented the largest proportion of take-up in July at 58%, followed by the consumer services & leisure (16%) and creative industries sectors (12%). Over the last 12 months, take-up has been dominated by the creative industries and the businesses services sector, both at 24% of take-up.

Under offers fell by 3% in July but still remained at a high level. Ending the quarter at 3.4m sq ft, under offers were 22% above the 10-year average of 2.8m sq ft. The largest unit under offer at the end of July was 1 Triton Square, NW1 where 310,000 sq ft is under offer to Dentsu. The largest under offer in the City was 125,400 sq ft at 125 London Wall, EC2.

A total of 2.7m sq ft of development and refurbishment space has completed so far in 2017. A further 3.8m sq ft is expected to complete before the end of the year, 63% (2.4 m sq ft) of which is already committed.