John Laing is in the process of offloading its development and property division. The group now states: "John Laing has commenced initial discussions with buyers for its subsidiary Laing Property. The board of Laing believes that there is significant value in the going concern business." The operation, which employs 35 people and develops and manages commercial, retail and industrial property, recorded a pre-tax profit of £13.2 million before one-off costs, and had a turnover of £61.1 million. Analysts have expected that it may sell for upto £50m.