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Places for People (PfP) is a property management, development, regeneration and leisure company based in the United Kingdom.[1] On 20 March 2024, it was announced that it had completed the merger of its operations with those of South Devon Rural (SDR).[2]
| Industry | |
|---|---|
| Founded | 1965 |
| Headquarters | |
| Revenue | 546,000 pound sterling (2017)  |
Number of employees | 12 (2017) |
| Parent | Places Leisure |
| Website | www |
History edit
Places for People was founded in 1965 by the North British Housing Association. A year after Bristol Churches Housing Association joined the group, its name was changed to Places for People Group Ltd. on 1 June 2000.[3]
With Places for People Scotland Care and Support[4] and Procurement Hub, a public procurement consortium, as part of the firm, [5] PfP raises money from investors by issuing corporate bonds in its own name.[6] PfP was the first housing group to respond by providing mortgages for shared ownership on its own developments.[7]
In April 2008, PfP launched the Ownhome equity loan scheme in partnership with the Co-operative Bank. This was aimed at enabling first-time buyers, key workers and occupants of social housing to purchase homes on the open market through a combination of a standard cooperative bank mortgage for between 60 and 80% of the value, with the balance funded via an equity loan from Places for People. The scheme ended in April 2010.
In 2010, the group recorded a £25 million impairment in the value of its assets, the largest write-down by a UK housing association up to that date.[8] The following year, it raised the social housing sector's first unsecured UK bond.[9]
Awards edit
In 2012 and 2014, PfP won Landlord of the Year at Property Week's RESI awards.[citation needed]
References edit
- ^ "Places for People... the UK's largest housing and regeneration group", Homeless International, 15 January 2007 Archived 24 September 2015 at the Wayback Machine
- ^ "SDR merger with Places for People Group now complete". South Devon Rural. Retrieved 28 March 2024.
- ^ "History". group website. Archived from the original on 31 January 2009. Retrieved 20 August 2011.
- ^ Our companies Archived 17 March 2011 at the Wayback Machine on official website
- ^ About us, accessed 24 August 2021
- ^ Bond tap nets Places for People £150m, Inside Housing, 23 December 2008
- ^ Social landlord bypasses banks to provide 100% mortgages, Public Finance, CIPFA, 29 June 2009
- ^ Landlord suffers £25m land hit, Inside Housing, 15 October 2010. Retrieved 2011-09-30.
- ^ Places for People issues £175m bond, Inside Housing, 20 May 2011
External links edit
- Places for People website
- Latest inspection report by the Audit Commission, March 2010
- "Places for People Neighbourhoods, registered charity no. 505813". Charity Commission for England and Wales. (charitable subsidiary)