L&Q Homes is a London-based charitable housing association founded in 1962. The company is considered one of the most successful independent social businesses in the United Kingdom. Focused on property developments throughout London and the South East, L&Q has over 95,000 homes that accommodate about 250,000 people.
History of L&Q Homes
The history of the modern company began with the Quadrant Housing Association, which was created in the London Borough of Greenwich in 1963. Then 32 people invested £2 each to create a housing association. The founder was the Reverend Nicholas Stacy, an Anglican priest.
Then in 1973, the Quadrant merged with another similar association, the London Housing Trust, established in 1967. The new organization was called the London & Quadrant Housing Trust. Since then, the home builder has been actively developing.
In 2011, L&Q was criticized by Conservative Party politicians, who argued that the company deceived the public and lawmakers about its plans to build on the Walthamstow stadium. East Thames Housing Group joined the company in December 2016. In February 2017, L&Q acquired the private land company Gallagher Estates for £505 million.
As of 2019, according to The Times, the housebuilder L&Q owned 95,000 homes in London and the South East. Also, this year, the company acquired Trafford Housing Trust. In 2021, Fiona Fletcher-Smith took over as Group CEO.
Social Purpose of L&Q Homes
The developer creates high-quality new developments across the country that are available via Help to Buy, L&Q Shared Ownership, and outright sale, in addition to providing homes for rent and resale. Moreover, the company is one of the largest landlords in the UK that offers units for private rent, intermediate market rent, and London Living Rent homes.
The company maintains a social purpose at its heart, believing that everybody deserves to have a safe and comfortable home. L&Q emerged out of a flourishing social consciousness around housing and homelessness in the 1960s. Committed to providing high-quality house developments, the association ensures that at least half of its new projects will be affordable to people of average and lower incomes.
Driven by its social awareness, L&Q goes beyond housebuilding, aiming to improve the communities it works with. The association is involved in education and social programmes as well as support for people with a wide range of needs, such as seniors, people with learning difficulties and mental health needs.
Property Types the Company Provides
At least half of the L&Q new homes are affordable for people with middle and low incomes. Thus, there are three types of real estate provided by the company:
- Sale of houses. The developer delivers new buildings throughout the country. In this case, the company provides services such as purchase assistance, L&Q co-ownership and direct selling.
- Rent of houses. The company is one of the largest landlords in the UK, providing private rental housing, intermediate market rentals and London Living Rent homes.
- Homes for resale. Customers can buy second-hand shared homes. They can choose from traditional houses, refurbished apartments or new build homes.
