Beechcroft has secured a £44.8m facility from Paragon Development Finance to fund the delivery of a new later living community in Shenley, Hertfordshire.
The funding package will support the acquisition of a site on London Road and the construction of an over 55s community comprising 88 houses and apartments, as well as affordable housing.
Residents will benefit from a range of on-site facilities and services including a communal lounge, a guest suite for visitors and an estate manager who will handle the day-to-day administration of the development. All apartments will have lift access and each home will feature a terrace, balcony or private garden.
Construction is expected to begin later this year, following the site’s acquisition in June 2026, with the first homes expected to launch in late 2027.
Chris Thompson, managing director of 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.
“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, added: “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. We are pleased to be assisting Beechcroft with another landmark project.
