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Housing associations exchange contracts on 2,800-home swap deal
The Guinness Partnership and Paradigm have exchanged contracts in a giant stock swap deal in which nearly 2,800 homes will change hands.
The two associations confirmed that the contracts for the swap deal in the South East of England have now been finalised, just over a year after it was first mooted.
The deal will involve 2,777 homes being swapped. Guinness will transfer to Paradigm 1,569 homes in Wycombe, Welwyn Hatfield, Vale of Aylesbury and Milton Keynes.
Paradigm will transfer to Guinness 1,208 homes in Hillingdon and Hounslow.
Last June, the associations said they were planning to swap 2,898 homes in a bid to make better use of their estate. They said at the time that the deal had not been finalised.
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A formal six-week consultation period with residents will now take place. The two associations will consider feedback before finalising the deal in the autumn.
They have said that the deal is part of their plans to create a more coherent footprint and that it will allow them to offer all customers a high-quality, cost-efficient service and invest further in existing homes.
If completed, it will be one of the biggest stock rationalisation deals in recent times.
In a major stock transfer deal in March, LiveWest sold 613 homes spread across Dorset and Hampshire to Radian Group.
March also saw Clarion sell 1,175 of its homes in Newcastle and South Shields to Riverside.
In May, Sanctuary’s supported living arm and Notting Hill Genesis agreed an 800-home stock transfer deal.
