Places for People (PfP) is a property management, development, regeneration and leisure company based in the United Kingdom.[1]

History

Places for People was founded in 1965 by the North British Housing Association. Bristol Churches Housing Association joined the group in 1999, and the name was changed to Places for People Group Ltd. on June 1, 2000.[2]

Group companies

Places for People Scotland Care and Support[3] and Procurement Hub, a public procurement consortium, are part of Places for People.[4]

Finances

PfP raises money from investors by issuing corporate bonds in its own name.[5] PfP was the first housing group to respond by providing mortgages for shared ownership on its own developments.[6]

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.[7]

PfP raised the social housing sector's first unsecured UK bond in May 2011.[8]

Awards

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

References

  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. ↑ "History". group website. Archived from the original on 31 January 2009. Retrieved 20 August 2011.
  3. ↑ Our companies Archived 17 March 2011 at the Wayback Machine on official website
  4. ↑ Procurement Hub, About us, accessed 24 August 2021
  5. ↑ Bond tap nets Places for People £150m, Inside Housing, 23 December 2008
  6. ↑ Social landlord bypasses banks to provide 100% mortgages, Public Finance, CIPFA, 29 June 2009
  7. ↑ Landlord suffers £25m land hit, Inside Housing, 15 October 2010. Retrieved 2011-09-30.
  8. ↑ Places for People issues £175m bond, Inside Housing, 20 May 2011
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