Stock swap with Paradigm Housing

11 March 2021

We’ve recently worked with Paradigm Housing Group to complete the housing sector’s largest stock swap.

Dramatic, warm lighting creates a homely mood. Very typically English houses that are over 100 years old. A picturesque scene, created by the long shadows and warm glow.

We completed on the work this week, and Paradigm have now taken ownership of 1,339 homes from us, mainly in the Wycombe, Welwyn and Dacorum areas and we have taken ownership of 1,151 homes from Paradigm in Hillingdon and Hounslow.

Catriona Simons, Group Chief Executive at Guinness said: “Both Guinness and Paradigm are committed to providing good services to our residents and this transfer of homes will contribute to us delivering increasingly efficient services whilst continuing to invest in our homes and in the communities where we work.

“The completion of the transfer is fantastic news and we look forward to welcoming our new residents and colleagues to Guinness.”

Matthew Bailes, Chief Executive of Paradigm Housing said: “I am delighted this deal has completed after a detailed negotiation period.

“Both organisations now have a greater concentration of homes in their respective areas which will allow us to provide high quality, cost-efficient services to our residents, invest in our homes and services, and continue to build new affordable homes in the future.”

We consulted with residents last summer before finalising the deal and the swap was supported by Savills Affordable Housing Consultancy.

Helen Collins, Head of Savills Affordable Housing Consultancy, said: “This was a very significant initiative for both organisations. As the largest social housing stock swap to date Guinness, Paradigm and their legal teams worked with tremendous focus to achieve good outcomes for tenants and the two organisations.”

We’re really pleased to welcome all our new residents to Guinness and look forward to providing them with a great service and great homes.