Laing has disposed one of its remaining housing interests, selling urban regeneration specialist John Laing Partnership to a management team for £16.4m.
The buyout, completed last week, is the fourth in a series of sales. Since November last year, Laing has sold Laing Homes, its retirement homes arm Beechcroft and a stake in US subsidiary WML Homes.

Laing's last remaining housing interest is a 30% stake in upmarket housebuilder Octagon Developments, which it plans to sell when market conditions in the South-east improve.

The John Laing Partnership, which includes specialist training firm John Laing Training, was sold to a team led by managing director Peter Taylor. It made pre-tax profits of £700,000 on turnover of £47m for the year to 31 December 2002.

Taylor said the sale came at a good time for the firm, which specialises in estate refurbishment of social housing to wholesale redevelopment. He said: "With a number of major projects under construction and a strong forward order book, we are in an excellent position to not only deliver but exceed expectations."

n Laing announced it has been picked as preferred bidder on the Greater Nottingham NHS LIFT project, and also that it has reached financial close on the Newham and Enfield schools PFI scheme.