Places for People acquires Touchstone

 
Tue 18 Dec 2012

Places for People have acquired Touchstone - a property management company responsible for managing 21,000 properties for a range of clients.

In 1999 they established Blueroom - a privated rented sector subsidiary. Since then they have continued to develop their products within this sector, alongside housing for sale, affordable rent and shared equity housing products.

By combining existing skills and resources with strong experience and excellence in property management, they see a major opportunity to work with Touchstone and significantly grow a private rented portfolio over the medium term.
David Cowans, Group Chief Executive of Places for People

"We have long supported the growth of the private rented sector, alongside other housing options for people and are delighted that we have been able to forge a strong relationship with Touchstone which will create opportunities to grow the private market rented sector as one of the major options available for people's housing choices in the UK."
Tim Saunders, Managing Director of Touchstone

"We are delighted to be working so closely with an organisation that shares our view of the way the housing market is changing and is so closely aligned with our vision for the high quality services to the private rented sector in the future. We see that this creates a real base for growth and to provide even better services for our clients."

Touchstone will continue to operate as a largely autonomous business unit within the Group, under its existing name and branding. The existing Touchstone management team are all remaining with the business and will continue to have executive responsibility for the operation of the company.

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