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28 May 2012

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Central Madrid office take-up falls 9.4% in first quarter

Overall take-up in central Madrid office space dropped 9.4% in first quarter compared with 1Q10, while it rose in the periphery by 39%, according to BNP Paribas Real Estate. Much resulted from relocations to cheaper accommodation, but this trend appears to be diminishing. Madrid's CBD take-up fell 7%. Overall new occupations across the city totalled 74,000 sq.m

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