Office take-up in 2006 is generally expected to remain on a par with last year. Mike Baker says that would represent an acceptable year. "In 2005, there was 60,000 sq.ft under offer before the year even started, but 2006 doesn't have the same kick-start to the year,' he explains.

The heady days of 2000 are still fresh in agents' minds, and continue to act as a barometer. Keith Wise, a partner at Campbell Gordon, says: 'The past couple of years have seemed slow because the years before are still fresh in our memory. A take up of 1.5m sq.ft is a hard act to follow.'