Luminus announces Places for People as merger partner
The Luminus Group Board is delighted to announce that, after careful consideration, Luminus is in early discussions to merge with Places for People. The proposal is for Luminus to become a subsidiary of Places for People. Services will continue to be delivered locally, from Brook House, and Luminus will retain its local board of management.
Places for People is one of the largest property and leisure management, development and regeneration companies in the UK. It currently owns or manages 182,725 homes and provides services to over 500,000 people. As a major provider of affordable homes, Places for People is committed to helping Luminus improve and expand its services. By joining Places for People, Luminus will have the capability to build at least 1,000 much-needed new homes within five years in the area. Tenants’ and leaseholders’ existing rights will not be affected by the merger.
Like Luminus, Places for People is a not-for-profit housing association and a registered provider of social housing. Both are regulated by the Homes & Communities Agency and both share a vision for homes and neighbourhoods that puts the customer at the heart of everything they do.
Together with Places for People, Luminus will be holding further consultation events with its residents.
Executive Leader of Huntingdonshire District Council, Councillor Graham Bull, said,
”The Council looks forward to working positively with the new organisation, and we particularly welcome the retention of a Huntingdon based presence. Together, we will explore how we can work actively in partnership, to both enhance the delivery of local homes and achieve greater resilience in our communities.”
Mike Forrest, Chair of the Luminus Group Board, said,
“Luminus Group’s Board is pleased to be in early-stage discussions about becoming a subsidiary of the Places for People Group. Luminus Group has been actively looking for opportunities to join a larger housing group that shares our values. Joining the Places for People Group would give Luminus the financial strength to continue to develop much-needed new homes whilst improving and enhancing the services it provides to customers in what is a challenging time for housing associations.”