Paragon provides £45m facility for Beechcroft later living scheme
The finance will fund the acquisition of a site on London Road and the construction of 88 houses and apartments for people aged over 55.
Paragon Development Finance has provided a £44.8m facility to support Beechcroft’s later living development in Shenley, Hertfordshire.
The finance will fund the acquisition of a site on London Road and the construction of 88 houses and apartments for people aged over 55, as well as affordable housing.
Construction is expected to start later in the year, with the first homes due to launch in late 2027.
The scheme will include air source heat pumps, electric vehicle charging points and communal gardens.
Residents will have access to a communal lounge, guest suite and estate manager.
The apartments will have lift access, while each home will include a terrace, balcony or private garden.
Chris Thompson, managing director at Beechcroft, said: “Our vision for Shenley is to create a community of thoughtfully designed homes that complement the character of the village.
“The scheme has been carefully planned to make the most of its surroundings, combining attractive architecture, green space and a strong sense of place.
“Shenley offers the best of both worlds with a charming village environment within easy reach of London and other major centres. We believe this unique combination, together with the quality of the homes, will make the development an appealing choice for buyers.”
Thompson added: “We are pleased to be extending our relationship with Paragon Development Finance once again through this latest project.
“The team’s understanding of the specialist housing sector and consistent support throughout the funding process has provided a strong platform for the delivery of another important development.”
Oliver Powlesland, senior relationship director at Paragon Development Finance, said: “Shenley is a well-established and highly desirable location, with a rich sense of local character.
“Developments that combine high-quality design with an attractive setting continue to see strong demand, particularly among buyers seeking homes that are better suited to their changing lifestyles.
“This facility highlights our expertise in supporting experienced developers to deliver specialist residential schemes at scale in an evolving and diverse market.”
Powlesland added: “We are pleased to be assisting Beechcroft with another landmark project.”
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