Paradigm enters merger discussions with Settle in bid to create 30,000-home landlord

Paradigm and Settle have entered discussions about a merger to create a new 30,000-home landlord.

Paradigm which manages 17,000 homes in Buckinghamshire, Bedfordshire and Hertfordshire and, Settle, which has around 10,000 homes across Hertfordshire, Bedfordshire, Buckinghamshire and South Cambridgeshire, are looking to merge by October this year.

In a statement, Paradigm said: “The decision was agreed by their respective boards this week.

“The target date for entering into a partnership is October 2025. The partnership will be subject to further approval by both boards and the relevant shareholders.”

The merger would create a landlord with a turnover of more than £230m.

In a joint statement, Matthew Bailes, chief executive at Paradigm and Rod Cahill, interim chief executive at Settle, said: “Paradigm and Settle share the same geography and focus on core social housing.

”Both organisations want to deliver excellent services, high-quality homes and more new affordable homes to help tackle the housing crisis. We believe that by joining together, we can work more efficiently and cost-effectively, achieving more for our residents and the communities where we work.”

The announcement comes as Paradigm revealed it is proposing to buy 3,500 homes in south Buckinghamshire from L&Q.

If the merger deal and stock acquisition both go through, a new 30,000-home landlord will be created.

Housing association giant L&Q is looking to sell stock that is outside of its core areas of London and Manchester.

Fiona Fletcher-Smith, chief executive of the 109,000-home landlord, said in a column for Housing Today this week that London and Manchester are places where L&Q “can have the biggest impact”.

She wrote: “When we transfer homes to another provider, what we are really doing is making sure they get the best service possible, from landlords who are equipped to deliver.”