We are pleased to announce that Derwent Living has become a subsidiary of Places for People.

The new partnership sees Places for People become one of the largest property management organisations in the UK, as well as gaining an established presence in the student living market.

Having been given approval by the Homes and Communities Agency and Financial Conduct Authority, the new partnership significantly increases our presence in the residential sector, growing our portfolio to more than 182,000 homes across the private rental, affordable, leasehold and student housing sectors.

Derwent Living owns or manages almost 30,000 affordable and student properties across the Midlands, Yorkshire and South East, and is the fifth largest provider of student accommodation in the UK.

By joining Places for People, Derwent Living will increase its financial potential to deliver new homes and enhance existing services, while the organisation will also benefit from the vast expertise and range of services on offer as part of the wider Places for People Group.

Like its predecessors to join Places for People - including Castle Rock Edinvar and Cotman Housing Association - Derwent Living will retain its local offices, independent identity, senior management team and operational structure.

Places for People will benefit from a new operational base in the East Midlands and an additional resource - through the skills and experience of Derwent Living's employees.

David Cowans, Chief Executive of Places for People

"It was clear that one of Derwent Living's greatest assets was its people and their working culture - which shares many similarities with our own. Student housing represented the last significant area of the housing market in which Places for People was not playing a major role. Gaining a partner with such a strong reputation in this area has completed the jigsaw, allowing us to offer tailored accommodation to people at all stages of their lives."

Peter McCormack, Chief Executive of Derwent Living

"The opportunity to enhance and expand our services in partnership with such a pioneering housing provider was truly unmissable. We are genuinely excited about the future for Derwent Living, with the additional expertise and financial power on offer as a member of Places for People."

Derwent Living is the third independent housing association to join the Places for People Group. Scottish social landlord Castle Rock Edinvar joined in 2005, followed by East Anglia-based Cotman Housing Association in 2009.

Derwent Living comprises three businesses, which together own or manage almost 30,000 homes across the Midlands, Yorkshire and the South East. Its core business, Derwent Living, manages around 10,000 affordable housing properties in the East Midlands. Its student accommodation business, Derwent Students, manages more than 19,000 units. Derwent Facilities Management Limited is a subsidiary of Derwent Living, offering a range of building management and maintenance services across the private and public sectors.

www.derwentliving.com

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