Places for People’s group executive development director Colin Rae has left the company after more than 17 years.
Rae has stepped down from the executive board to launch residential funding and delivery business, Edinburgh-based Colin Rae Development Solutions.
He was group executive development director at PfP for almost five years and one of six executive board members.
Rae was responsible for the development and construction business. He led the group’s offsite construction strategy and its modular business, Modularwise, which the company acquired in 2017.
The news comes as the housing and regeneration specialist ramps up its off-site manufacturing ambitions through new partnerships, including a £100m deal with Ilke Homes.
Its asset management arm, PfP Capital, is also exploring new strategies to attract finance for its £550m build-to-rent fund, including developing specific schemes for the fund to acquire.
A replacement for Rae’s position is yet to be announced. PfP is expected to provide a performance update in its annual report early next month.
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