Places for People in £77m deal with Urban Splash

Preston-based Places for People, one of Britain’s biggest property management and Manchester’s Urban Splash have agreed to develop a joint venture agreement, following the acquisition by Places for People of 654 apartments from Urban Splash in a £77m deal on July 26th 2013.

This announcement marks the first step in a new partnership between Places for People, which owns and manages more than 143,000 properties and has assets in excess of £3 billion, and award-winning developer Urban Splash. The partnership will work on developments such as Sheffield’s Park Hill scheme, which has been shortlisted for the prestigious Stirling Prize, with the winners announced on Thursday September 26.

David Cowans, chief executive at Places for People said: “Working with Urban Splash makes absolute sense for us and is a further commitment to providing an even greater choice and access to high quality, affordable and sustainable housing.

“We are very pleased to be able to work with Urban Splash, initially on the innovative development of Park Hill in Sheffield, and we will be looking at further opportunities to develop schemes within the Urban Splash and Places for People portfolio in the future.”

Tom Bloxham MBE, chairman of Urban Splash said: “This announcement is great news for Urban Splash. Places for People and Urban Splash have many shared values, and great reputations for regeneration, placemaking and great architecture. Urban Splash has an enviable track record having developed over 60 schemes and won 348 awards over the last 20 years.

“Looking forward, we are keen to undertake more projects in partnership and are very pleased to be able to work with a company of the quality, stature and size as Places for People. We are looking forward to creating more award-winning homes with them.”