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Central London Market Report Q1 2013

Take-up in the first quarter amounted to 2.5 million sq ft, the highest
quarterly total since the end of 2010 and a 28% increase on the
figure for Q1 2012. However, this figure does include the 863,000 sq ft
forward sale to Google at King’s Cross.
There are a number of signs that activity will build later this year.
The amount of space under offer at quarter end stood at 1.9 million
sq ft, the highest since Q3 2011, while active underlying demand
increased by 13.6% over the three months.
Some £2.6 billion of stock was traded over the first quarter, down
20% compared to Q1 2012. This reflects an increasing supply
shortage, with both demand from overseas investors and
competition for sites remaining intense.

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