Accessibility and low overall occupancy costs make the city an attractive proposition for potential occupiers, said Jane Taylor, Head of Office Agency at LSH's Leicester office.

TOCS 2016 shows that the cost of occupying a new-build development in London’s Midtown district now stands at £127 per sq ft per annum compared with £57.07 in Leicester, with the percentage difference between the two locations having never been higher.

“Leicester has seen an increase in prime rents over the past year due to a combination of factors, led primarily by a shortage of Grade A supply and increasing building costs,” added Jane.

“However, as an extremely accessible location with strong motorway and rail links, it still has an attractive lower overall occupancy cost than its main regional competitors.”