SettleParadigm housing group formed following legal completion of merger
We are delighted to have legally completed a merger with Paradigm Housing Group to form a new organisation operating primarily across Buckinghamshire, Hertfordshire and Bedfordshire.
Our new organisation, initially known as SettleParadigm, is now the largest housing group operating in the region with ownership of almost 27,000 homes.
Boards of both organisations decided to proceed with the partnership after considering a detailed business case, information gathered through due diligence, and feedback from a six-week consultation with residents.
The merger proposals were initially announced in March with a decision to proceed taken in August following resident consultation. A full Board and executive team is already in position to lead the new organisation.
Our new organisation will focus on improving services for existing residents, delivering more affordable homes and investing in local communities. Although the legal merger has taken place, it will take longer to fully integrate all systems and operations.
Richard Moriarty, SettleParadigm Chair, said: “Our ambition has been to be larger and more local, to enable us to do more for residents and provide more new homes. By merging with Settle, which shares a similar geography to us, we will benefit from economies of scale while remaining rooted in our local neighbourhoods.
We know there are many challenges ahead including net zero and the desperate need for more affordable homes. Together, we’ll be stronger, more resilient and better able to face these head on.
Sally Veitch, Senior Independent Director of SettleParadigm and former Chair of Settle, said:
Today marks a real milestone for both Settle and Paradigm as we join together so we can do more for our residents.
Paradigm also announced in March that it was in discussions about buying 3,500 homes in South Buckinghamshire from L&Q. L&Q are now consulting their residents on these plans.
