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LONDON-In spite of a series of poor figures for 2003, demand for office space in the south of the UK may be about to show signs of life according to the latest research from Strutt & Parker. With viewings during the third quarter of the year up on 2002, the market may be on the edge of a surge in demand in 2004.

But caution must remain a central principle. Viewings for the period may have increased, but total take-up for the region is likely to come out at 3 million sf against last year’s 4 million. It is also significant that take-up of office space during Q3 is at its lowest quarterly level since 1997.

Simon Underhill, head of Strutt & Parker’s National Office Agency said: “The full impact of the uncertainty at the beginning of the year is now being reflected in take-up figures for the year to date. While this appears to paint a gloomy picture, we believe we have passed the low point in the cycle.”

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