A 58 year old man is in custody following an incident in downtown London involving a knife.

Around 2:30 p.m. Thursday, London police were called to Richmond Street just south of Dundas for reports of a man wielding a knife.

Witnesses tell CTV London that it started with a verbal fight at the corner near the Market Tower.

It quickly escalated and that's when the suspect allegedly produced a knife with an 8 to 10 inch blade.

A short chase ensued but the man with the knife eventually fell and was approached by police with weapons drawn.

He was arrested at gunpoint.

No one was injured.

A 58 year old London man is facing charges of carrying a concealed weapon, possession of a weapon dangerous to the public peace and assault with a weapon.