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© REUTERS/Luke MacGregorArmed police officers walk in Tottenham Court Road in central London April 27, 2012. A man threw computer equipment from a fifth floor window on Friday.
Police snipers and heavily armed officers put several blocks of central London's shopping district into lockdown Friday after a man allegedly armed with gas canisters entered an office building and threatened to blow himself up.

Police said a 49-year-old man was arrested hours after a stand off with police at Advantage, a training company near London's Tottenham Court Road that offers tests for truck drivers.

A shirtless man in green khaki pants was seen being led out with his hands behind his back by two unarmed officers. Armed officers followed behind.

British media had claimed that the man was holding people captive, but police said they were "not aware of any hostages at this stage." Police and security personnel said the incident was not terror-related and presented no risk to the upcoming 2012 summer Olympics.

An Advantage employee interviewed by The Huffington Post identified the suspect as a former customer and said he had come in "strapped up in gasoline cylinders."

"Basically he threatened to blow up the office," Abby Baafi, 27, told the news website.

Police declined to say whether he had been armed in any way.

The Huffington Post's U.K. editor Carla Buzasi told The Associated Press that her organization's offices shared a fire escape with Shropshire House, where Advantage is headquartered. She said that two men ran into their offices when the suspect arrived, sending "a ripple of panic" across the newsroom.

The Huffington Post's offices was one of several buildings in the area evacuated as police with heavy weapons and riot gear got into position. Several blocks were cordoned off and subway stations were closed as office equipment was chucked from a fifth floor window.

"He threw 10 computers," 26-year-old construction worker Martynas Vristiuk said, adding that one of the computers landed on a police car.

The three-hour-long siege turned the normally bustling Tottenham Court Road into a ghost town. The motive behind the standoff wasn't immediately clear. A phone message left with Advantage was not immediately returned.

"This was an isolated incident and has no bearing on security preparations ahead of the summer games," said a British security official on condition of anonymity because of the sensitivity of his work.

Fergus Bell, Raphael Satter and Paisley Dodds contributed to this report.