Armed police officers walk in Tottenham Court Road in central London
Armed police officers walk in Tottenham Court Road in central London April 27, 2012. Police sent a hostage negotiator to an office block in central London and evacuated the area around the building after a man threw computer equipment from a fifth floor window on Friday. REUTERS/Luke MacGregor

London police arrested on Friday a 49-year-old man in connection with the bomb and hostage scare on Tottenham Court Road in central London, after negotiators stepped in.

After contact with our specialist negotiators the man came out of the building and was arrested, Metropolitan Police Cmdr. Mak Chishty said a statement on Twitter. He is now in custody.

Two armed officers were seen leading a shirtless man wearing green khaki pants with his hands behind his back, the Associated Press reported. They were being followed by other armed officers.

Chishty said he was concerned that the man may have explosive material or flammable liquids and said that his immediate concern was for the safety of the public.

The police have yet to release the identity of the man, whom some witnesses have identified as Michael Green.

Chishty thanked the community and local businesses for their cooperation following the incident and said that all will return to normal as soon as authorities ensure the premises are safe. A building search is being conducted but police said they are not aware of any hostages at this stage of the incident. There have also been no reports of injury.

Tottenham Court Road is a significant shopping area in central London. The buildings were evacuated on Friday and area closed off after a woman told police that man saying he was carrying a bomb threatened to blow himself up.

The British media have reported that the man was holding people hostage.

Abby Baafi, 27, an employee of Advantage, a logistics company, told the Telegraph that the suspect was a former customer. She said he entered her office building strapped up in gasoline cylinders.

Basically he threatened to blow up the office, she said. He said he doesn't care about his life, he doesn't care about anything, he's going to blow up everybody.

Police have yet to say if the suspect was armed and with what.