Proposed merger between South Devon Rural Housing Association and Places for People approved
Places for People (PfP) proposal to take over the 357-home South Devon Rural (SDR) Housing Association have been approved by the south-west housing provider’s shareholders.
The merger was approved last February and will now proceed subject to all required next steps being completed.
The formal merger process will begin in March and the aim is for SDR to be integrated into PfP later in this year, “continuing the seamless process for SDR customers”.
SDR has said the merger will open up opportunities for greater investment in affordable homes in South Devon. Its customers have been consulted on the plans and will be contacted with key information as the merger progresses.
Discussions of a potential merger between SDR and 240,000-home Places for People were first announced in December last year.
Last week, Places for People’s merger with Origin Housing was approved. Origin Housing will become a subsidiary of PfP as of spring this year.
Greg Reed, Places for People group CEO, said: “I’m really pleased that our proposed merger with South Devon Rural has been approved. Affordable housing is in huge demand and the level of investment needed to improve and maintain existing homes is significant across the country.
“This merger will allow us to commit the resources needed to protect and build upon the great work South Devon Rural has done since it was established in 1958. Affordable housing customers should not be forced out of living in rural areas, particularly when it’s where they have built a life. We’ll work together to create opportunities to deliver more new affordable homes in this part of the country.”
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Christine Candlish, CEO of South Devon Rural, said: “I’m delighted that all our work over recent months has paid off and that SDR will soon be joining the Places for People family in what I’m confident will prove to be a highly beneficial move for our customers and the broader community.
“This merger enables both parties to go forward playing to their strengths – giving SDR the sustainability it needs to deliver its aims of providing more affordable homes in the South-West, whilst enabling our senior partner to widen its scope and influence within our region.
“I’m pleased that the feedback from our recent consultation exercise among SDR residents demonstrated an understanding of the issues and broad support for the move. The future looks a lot brighter from here on in.”
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