‘Ambitious’ west of England landlord to join Places for People

Places for People has announced it is having merger discussions with a small landlord in the west of England.

Under the plans, Elim Housing and its 900 homes across Bristol and Gloucestershire would join the Places for People Group later this year.

The proposals are subject to a consultation with customers, as well as due diligence checks between both organisations.

Paul Smith, chief executive of Elim Housing, said that Elim was “an ambitious organisation” which was “proud” of its history and “the value we add to the areas where we work”.

However, he said the current economic environment had “made it increasingly difficult for us to achieve our ambitions”, including the improvement of existing properties and the development of new homes. 

“In order to strengthen and sustain the homes and services Elim provides, we considered the potential for Elim to merge with another organisation,” he explained.

“After considering our options, we chose to progress with Places for People as our preferred partner. 

“We believe it is an organisation with the scale, resource and a suitable geographical, service and cultural alignment to deliver hugely positive outcomes for all of Elim’s customers.”

Founded more than 60 years ago by the Elim Church, the housing association, according to its most recent financial statements, was expecting to pass the 1,000-home threshold for greater regulation in the medium term.

Elim recorded a £9.1m turnover in these accounts and a £69,000 deficit before tax and pension costs.

Greg Reed, group chief executive of Places for People, said: “Places for People is really pleased to have started merger discussions with Elim Housing. 

“Both organisations have a proud history of supporting the city of Bristol and wider operating areas with the provision of social homes, as well as wider support such as homeless prevention.  

“There is a great synergy in our missions and values as organisations and this relationship offers a really exciting opportunity for us to go further together.” 

Places for People encompasses 20 housing providers, developers, property managers and care providers. It owns and manages more than 245,000 properties across the UK, including 74,000 social rented homes.