Paragon Bank has agreed a £10m revolving credit facility to back a £30m housing scheme in Ascot from Beechcroft.
The project will deliver 27 apartments and nine houses, blending new-build with renovation of a Grade II listed building across 13 acres.
Work is due to start soon, with the first homes expected for sale in spring 2026.
The scheme is being developed by Beechcroft’s special projects division.
It will be open to buyers over 16 and is not restricted to the retirement market.
The site includes communal gardens, a tennis court and new homes with Beechcroft’s Healthihouse™ features, including antimicrobial light switches and handles, non-porous worksurfaces, easy-clean wall panels in bathrooms and a whole-house ventilation system with filtered air.
Kitchens will have water filtration.
Residents will be within five minutes’ drive of Ascot High Street and racecourse.
Sunningdale and Sunninghill are nearby, with train links to London Waterloo and a range of shops and cafes.
Paragon said this is its first funding deal for a scheme of this type, as the bank looks to expand its development finance portfolio beyond traditional sectors.
The deal was led by James Helmore, relationship director, and Megan Andreou, portfolio manager, at Paragon Bank.
Helmore said: “We’re proud to support Beechcroft in delivering this outstanding scheme in Ascot.
“The company’s reputation for quality and attention to detail is second to none, and this development will provide much-needed, thoughtfully designed in a prime, in-demand location.”
Chris Thompson, managing director of Beechcroft, said: “We’re delighted to be working with Paragon Bank on this exciting project.
“We appreciate the bank’s flexible funding approach and its recognition of the growing later living sector will prove invaluable as we plan for future developments in the retirement sector.”
