A source said: "Clearly, Holloway White Allom does not fit with the new shape of Laing. It's an open secret that the management is in talks to buy the business and is in a very strong position. The management is ready to move."
Sources said a buyout was the most likely outcome because companies interested in acquiring the property division would not be in need of a contractor as well.
A Holloway White Allom spokesman said: "Laing is looking at the potential disposal of Holloway White Allom, but no final decision has been made."
The management is in a very strong position and it’s ready to move
Holloway White Allom, which was founded in 1880, specialises in high-end contracting. It was the main contractor for Oxford University's Saïd Business School and the New Haberdashers' Hall in London. The £50m-turnover company also refurbishes large and listed homes in south-east England.
The sale will end Laing's 153 year involvement in contracting. It sold its main construction business, which had lost £195m in three-and-a-half years, to Ray O'Rourke for £1 last September.
Laing announced last week that the sale of its construction business was expected to cost it £117m. The company added that it had come to an agreement with the DTI and subcontractors regarding the troubled National Physical Laboratory project at Teddington, south-west London, on which it has taken a £70m hit. The firm did not say what the agreement involved.