London and Quadrant
 | |
| Founded | 1963 |
|---|---|
| Founder | Rev Nicolas Stacey |
| Type | Housing Association |
| Location |
|
Area served | London & South East England |
| Product | homes to buy, affordable & social rented homes, supported & sheltered housing |
Key people |
Aubrey Adams OBE (Chairman) David Montague CBE (CEO) Waqar Ahmed (Finance) |
| Subsidiaries | Quadrant Construction Services Ltd |
Employees | 2290 (2017) |
| Website | http://www.lqgroup.org.uk/ |
London and Quadrant Housing Trust (L&Q) is a housing association operating in Greater London, South East England and East Anglia, based in Lewisham.[1] Quadrant Housing Association, one of its original forebears, was established in 1963. Today L&Q is the largest landlord in Greater London, owning or managing over 90,000 homes in London and other regions of England, with an annual turnover of £756 million in 2016.
History
The Quadrant Housing Association was formed in the London Borough of Greenwich in 1963 when 32 people invested £2 each to create a housing association. Its founder Rev Nicolas Stacey was a Church of England priest who later became head of Social Services for Kent County Council.[2][3]
In 1973 Quadrant joined forces with another association, London Housing Trust, which had been set up in 1967. The merged organisation was named London & Quadrant Housing Trust.
In December 2016, London and Quadrant merged with the East Thames Housing Group.[4]
In February 2017, L&Q completed a deal to buy the private land company Gallagher Estates for £505 million from Tony Gallagher.[5]
Quadrant Construction
In 2010, L&Q created an in-house construction practice, Quadrant Construction, which grew by 2016 to a £200m turnover business, making a £4m profit that was given back to the housing association. However, on 23 May 2017, L&Q announced a restructuring which would see Quadrant rebranded, with consultations starting about possible redundancies among the 200-strong workforce.[6]
Properties
L&Q is the largest landlord in Greater London.[7]
L&Q owns or manages over 70,000 homes in London and other regions of England, with an annual turnover of £720 million in 2016.[8]
Criticism
In 2011, Iain Duncan Smith criticised London and Quadrant and called upon Eric Pickles for the housing association to be investigated. In his letter to the Communities Secretary, the Secretary of State for Work and Pensions said that L&Q had misled the public and MPs over its plans for development on the site of the Walthamstow Stadium, a well known dog race track. His letter was also sharply critical of L&Q's increasing move towards property speculation and away from social housing provision.[9]
In April 2016 a London Live News report focussed criticism on unfit conditions London and Quadrant allow paying tenants to live in. The tenant interviewed called for L&Q to be investigated.[10]
References
- ↑ The Guardian, https://www.theguardian.com/housing-network/2012/jun/08/london-and-quadrant
- ↑ "Obituary Rev Nicolas Stacey". The Times. 16 May 2017. Retrieved 3 July 2017.
- ↑ "The Reverend Nicolas Stacey, reform-minded Anglican – obituary". The Telegraph. 9 May 2017. Retrieved 3 July 2017.
- ↑ "East Thames and L&Q announce successful merger completion and refinancing". East Thames. 6 December 2016. Retrieved 25 April 2017.
- ↑ Isabelle Fraser (2 February 2017). "L&Q snaps up land investor Gallagher Estates in £505m deal". Telegraph.co.uk. Retrieved 13 May 2017.
- ↑ Morby, Aaron (23 May 2017). "200 Quadrant Construction staff face restructure". Construction Enquirer. Retrieved 23 May 2017.
- ↑ History of L&Q http://www.lqgroup.org.uk/services-for-residents/about-landq/history-of-landq/
- ↑ L&Q Financial Statements 2016 http://www.lqgroup.org.uk/_assets/files/view/31728236-f42a-4f9a-9d2e-151c7d8fcd34/
- ↑ "Save Walthamstow Stadium". saveourstow.wordpress.com. Retrieved 4 July 2017.
- ↑ "London Live: Lisa Askew Calling for L&Q to be investigated". youtube. Retrieved 4 July 2017.