Wednesday 20th March 2024

SDR merger with Places for People Group now complete

SDR completed its merger with the Places for People Group * today (20 March, 2024) after receiving regulator approval.

The merger, which will open up opportunities for greater investment in affordable homes in South Devon, was initially given approval by SDR shareholders in early February. There followed a slight delay whilst compliance was confirmed by the Financial Conduct Authority (FCA).

With that approval confirmed, SDR is now officially a subsidiary of Places for People and both partners can start working towards full integration later this year.

SDR, which currently owns and manages 357 homes in the South-West of England, will play a key role in helping Places for People to expand its operations in the region, whilst benefiting immediately from the greater sustainability afforded by being part of a larger organisation.

SDR’s full integration into the Places for People family will be a seamless process so far as SDR customers are concerned. They were consulted on the initial proposals – and can be assured that they will continue to be provided with key information as the partnership moves forward.


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 is 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 New Year 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”.