UGL mulls property demerger UGL has flagged the possible spin-off of its DTZ property services business as part of a review of the contractor's group structure. The company also outlined the succession planning for its long-serving chief executive, Richard Leupen. UGL shares were up as much as 9 per cent to $10.29, in morning trade. UGL has historically been seen as an engineering and mining services contractor, but the acquisition of global firm DTZ in 2011 and subsequent growth has seen its property services division account for close to half the group's earnings. UGL first dipped its toe in property services through the acquisition of KFPW in 2002. ""Given the substantial scale both businesses have now reached, it is the right time to review UGL's corporate structure to fully capitalise on the strong growth opportunities across the engineering and property services sectors,"" Mr Leupen said. Alternatives from a potential demerger of the company, chairman Trevor Lowe said, included a review of the M&A strategy or maintaining the current status quo. Mr Leupen, who joined UGL in 2000 and has been widely credited for overseeing the contractor's steady growth, will deliver the review and implement its recommendations. Mr Lowe said if the board finds that a change to the corporate structure is required, ""it is intended that Richard will continue in his role for a short time beyond the current end date of his contract on 31 March 2014 to complete the work"." Following the conclusion of the review, Mr Lowe said, UGL will provide an update on the succession planning timetable for Mr Leupen. UGL has appointed Goldman Sachs to advise on the group structure review.