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2011 witnessed continued interest from occupiers, however this failed to translate into a substantial amount of take-up activity. The gradual erosion of Grade A supply continued, and with very little in the development pipeline we expect a return to preletting activity in some markets. Investment volumes were relatively weak this quarter as buyers continued to focus on Central London and the South East. However, increased competition and strengthening market fundamentals for prime space should drive increased investor activity outside of London this year.
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05 May 2011