In the key central London office market overall take up for theyear is expected to be in the region of 14 million sf. Althoughthis level is lower than the 18.6 million sf seen in 2000, it ishigher than the five-year average.

In the West End market many requirements have been put on holdand availability has risen by 25%. Prime rents in this area alsosaw their first drop since 1992, down to £77.50 ($112) per sf from£82.50 ($119) per sf at the start of the year.

But the City saw strong take-up of 1.7 million sf during thethree months to September 2001, up 21% on the previous quarter.Insignia Richard Ellis is forecasting that take-up will reach 5million sf this year with top rents remaining unchanged at £63($90) per sf.

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