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A new report from Cityoffices and Metropolis looks ahead at the London office market in 2012. Amongst its conclusions are that the trend towards refurbishments in central London will continue, with dozens of office revamp schemes lined up to go ahead this year, including 1 Threadneedle Street, 36 Queen Street and 51 Eastcheap. 2011 saw 50 new development starts, of which over 70% of these were refurbishments. - (10-02-2012)
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Total office take-up in central London in April fell back to 600,000 sq ft, from an average of over 1m sq ft in the first 3 months of the year, according to figures from Metroinfo. Lettings of new office space held up well at 220,000 sq ft. But a shortage of secondhand and west end deals in the run-up to the election had an impact. - (10-06-2010)
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Office lettings in central London in January 2010 topped 1.2m sq ft, according to figures from Cityoffices and Metroinfo. Some 60 deals over 5,000 sq ft were signed, including two large deals to Macquarie Bank and Blackrock. The insurance sector was particularly active. Over half (600,000 sq ft) of the office space let was recently completed, further shrinking the availability of new office floorspace. Rents edged higher. - (24-02-2010)
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End of year figures from Metropolis/Cityoffices show that total London lettings reached 9.3m sq ft in 2009. Despite a strong end to the year this was 20% down on 2008's total. The City totalled 4.3m sq ft, Midtown reached 1.5m sq ft and the West End was 2.1m sq ft. New Grade A space lettings reached 3.8m sq ft - 41% of all take-up, a major rise on 2008's 2.5m sq ft or 20%. Financial Services and professional topped the business sectors table. - (28-01-2010)
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South Kensington Tube station has just been listed by the Culture Secretary and could thow into doubt plans by Stanhope and Hutchison Whampoa for gaining planning consent for a new office and retails scheme. Proposals for a Terry Farrell & Partners designed 11-storey tower and shopping centre were withdrawn last month following local protests. South Kensington Tube station was built in 1868 and the listing is intended to presenrve original features designed by Sir John Fowler for the Metropolitan and District Railway. - (09-09-2004)
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