Take-up of office space in Central London declines during Q1 2002

Take-up of central London office space declines in Q1 as last yearÂ's weakening in sentiment continues to affect activity levels

The latest CB Hillier Parker analysis of the central London office market shows that it recorded the expected slow start to the year, with take-up falling by 27% by comparison with the final quarter of last year to 180,000 sq.m. In part this reflects an absence of the type of large volume pre-lets that supported the mini-recovery in Q4 2001- the absolute number of transactions actually rose slightly this quarter but there were very few transactions of over 2,000 sq.m.

(source: CB Richard Ellis/CB Hillier Parker)

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