An increase of sublet space in London's office sector beckons caution but does not immediately jeopardize any securitizations of assets within this market, say market analysts.

It does, however, exhibit a slowdown greater than expected. In a prior forecast conducted last year, Salomon Smith Barney regarded the London office sector as "relatively under-built" and considered it well positioned for an economic recession. It did not at that time consider the diminishing head count that has swept through a number of corporations, which tapered the need for office space.

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