A milestone for the sector: Devonshires advises L&Q on 3,500 home transfer to SettleParadigm

Devonshires has advised L&Q on the sale of approximately 3,500 tenanted homes in South Buckinghamshire to Paradigm Homes Charitable Housing Association (trading as SettleParadigm). The transaction represents the largest disposal of its kind completed to date in the social housing sector.

This transfer will enable L&Q to continue their strategic focus and concentrate resources on their core geographies of Greater London and Greater Manchester.

Devonshires provided full legal support to L&Q across the lifecycle of this complex disposal. The matter was led by Partner Elad Yasdi in our Real Estate & Projects team, working closely with the L&Q team to deliver the transaction efficiently and confidently. Elad was supported by Devonshires colleagues Michael Wharfe, Sasha Pirbhai, Tilly Kemp, and Lena Barnes from our Construction & Engineering team and Charlotte Sawyer from Real Estate. Banking advice was provided by Gary Grigor, with Employment support from Kirsty Thompson.

Elad commented: “We’re delighted to have supported L&Q on what was a highly complex disposal. The scale of the transaction required close collaboration and a practical understanding of the challenges involved. Our team worked alongside L&Q at every stage to ensure a smooth process, and we are pleased that the parties have reached this milestone which supports L&Q’s strategic decision to focus activity on areas where it has the largest concentration of homes.”

David Lewis, executive group director – property and investment at L&Q, said: “Since we announced our plans to explore a stock transfer in March 2025, we’ve carried out a formal consultation with residents and a comprehensive due diligence process. This has ensured [Settle]Paradigm are the right organisation to manage these homes.

“The transfer of these homes has now completed, and we have every confidence that [Settle]Paradigm – a locally based housing provider – are best placed to deliver an excellent service in the area.

“As an organisation, we consider homes for transfer where they sit outside our core geographies of Greater London and Greater Manchester.

“This supports our strategic decision to focus our activity on areas where we have the greatest concentration of homes, enabling us to provide responsive, joined-up services which offer best value for residents.”

Matthew Bailes, chief executive of SettleParadigm, said: “We believe that we can deliver more for the communities we serve if we become larger and more local.

“By acquiring these homes in our heartland, we can deliver excellent local services to our new residents and benefit from economies of scale. We can’t wait to welcome our residents on board.”