South Devon Rural Housing Association (SDR), which owns and manages 357 homes in the South-West of England, is set to merge with the Places for People Group after its shareholders approved the plans.
The merger, which will open up opportunities for greater investment in affordable homes in South Devon, was given approval by SDR shareholders on Thursday 8 February and can now proceed subject to all required next steps being completed.
The formal merger process will begin in March. SDR’s full integration into Places for People is being targeted for later in the year, continuing the seamless process for SDR customers – who were consulted on the plans – and will be contacted with key information as the merger progresses.
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.”
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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