Places for People expands further as 7,600-home landlord joins group
Places for People has further strengthened its position as one of the UK’s largest property management organisations after social housing provider Luminus Group formally joined as a subsidiary.
Luminus, which owns or manages 7,640 homes in the East of England, has will retain its independent identity, local offices, management team and board as part of the deal which increases the Places for People management portfolio to 195,000 homes.
The group is the fourth independent housing association to join the Places for People Group. Castle Rock Edinvar in Scotland joined in 2005, followed by East Anglia-based Cotman Housing Association in 2009, and most recently Derwent Living in 2017.
The new partnership will enable Luminus to increase its development pipeline to 1,000 new homes over the next five years and strengthen its financial position to deliver investment in its existing homes and services. As part of the Places for People Group, Luminus will enhance the services on offer to its customers through access to additional expertise and resources.
Through partnering with Luminus, Places for People will benefit from an additional resource in the skills, experience and local knowledge of Luminus’ employees and a new operational base in Cambridgeshire. The partnership will also provide opportunities to rationalise the management of its social housing stock and to drive efficiencies through the delivery of repairs and maintenance services.
Nigel Finney, managing director of Luminus Group, said: “Joining the Places for People Group is a major milestone for Luminus, which will benefit our customers, staff and the communities we work in. The opportunity to enhance our services and build more new homes as part of one of the UK’s largest and most forward-thinking housing providers is a pivotal moment in Luminus’ history.
“Over the past 17 years, Luminus has been providing affordable homes for people across the East of England. Joining Places for People offers our customers and staff the best of both worlds; enabling us to continue to deliver services locally that are tailored to our communities, while benefitting from the financial security, economies of scale and opportunities that come from being part of a much larger organisation.”
David Cowans, group chief executive at Places for People, said: “Luminus Group is an ideal partner for Places for People. We’re delighted to build on the successful partnership with Derwent Living last year by welcoming another regional housing provider into the Group. We look forward to working together to share expertise and best practice to benefit both Places for People and Luminus.
“The partnership with Luminus Group will not only provide a new operational base for Places for People in Cambridgeshire, it will also enable us to rationalise our housing stock in the region, to deliver greater efficiencies that ultimately improve local services.”
Places for People said that Castle Rock Edinvar, Cotman Housing Association and Derwent Living have driven down management costs, whilst investing more in homes and communities since joining the group. After becoming part of Places for People in 2009, Cotman Housing Association has more than doubled the number of homes it manages, increased its operating profit by 283% and consistently improved performance, as well as achieving greater operational efficiency through access to the group’s significant buying power, capital assets and funding.