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Places for People

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Places for People
Industry
Founded1965; 59 years ago (1965)
Headquarters
Revenue546,000 pound sterling (2017) Edit this on Wikidata
Number of employees
12 (2017) Edit this on Wikidata
ParentPlaces Leisure
Websitewww.placesforpeople.co.uk

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]

History

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Places for People was founded in 1965 by the North British Housing Association.[3] A year after Bristol Churches Housing Association joined the group, its name was changed to Places for People Group Ltd. on 1 June 2000.[4]

With Places for People Scotland Care and Support[5] and Procurement Hub, a public procurement consortium, as part of the firm,[6] PfP raises money from investors by issuing corporate bonds in its own name.[7] PfP was the first housing group to respond by providing mortgages for shared ownership on its own developments.[8]

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.[9] The following year, it raised the social housing sector's first unsecured UK bond.[10]

Awards

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In 2012 and 2014, PfP won Landlord of the Year at Property Week's RESI awards.[citation needed]

References

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  1. ^ "Places for People... the UK's largest housing and regeneration group", Homeless International, 15 January 2007 Archived 24 September 2015 at the Wayback Machine
  2. ^ "SDR merger with Places for People Group now complete". South Devon Rural. Retrieved 28 March 2024.
  3. ^ "Our History and heritage". Places for People. Retrieved 11 June 2024.
  4. ^ "History". group website. Archived from the original on 31 January 2009. Retrieved 20 August 2011.
  5. ^ Our companies Archived 17 March 2011 at the Wayback Machine on official website
  6. ^ About us, accessed 24 August 2021
  7. ^ Bond tap nets Places for People £150m, Inside Housing, 23 December 2008
  8. ^ Social landlord bypasses banks to provide 100% mortgages, Public Finance, CIPFA, 29 June 2009
  9. ^ Landlord suffers £25m land hit, Inside Housing, 15 October 2010. Retrieved 2011-09-30.
  10. ^ Places for People issues £175m bond, Inside Housing, 20 May 2011
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