Paragon Development Finance has provided a £15.9m funding package to Beechcroft to acquire and develop a later-living scheme in Hartley Wintney, Hampshire.
CGI of Beechcroft’s Hartley Wintney scheme, Hampshire
The development will comprise 31 two-bedroom apartments and four terraced houses. Most of the homes will include private outdoor space in the form of a garden, terrace or balcony, with lifts providing access to all apartment floors.
Proposals include a residents’ lounge, guest suite and onsite office providing estate management and maintenance support.
The scheme will also include a range of sustainability features such as solar PV panels, air source heat pumps and electric vehicle charging points, as well as biodiversity enhancements such as additional planting and the installation of bird and bat boxes.
Chris Thompson, managing director at Beechcroft, said: “This is our third deal with Paragon, and we’re pleased to be continuing a strong and collaborative partnership. The team’s understanding of our business, combined with their pragmatic and supportive approach, has been invaluable in helping us bring another exciting scheme forward.
“Hartley Wintney is an excellent location, offering prospective residents in this new community easy access to village amenities, transport links and green open spaces, alongside a range of onsite facilities tailored to the needs of today’s over-55s.”
Oliver Powlesland, senior relationship director at Paragon Development Finance, added: “We’re delighted to be supporting Beechcroft on this latest transaction.
“Our expanding partnership is built on a shared ambition to deliver well-designed homes that meet evolving housing needs, and we look forward to seeing this scheme come to life. Developments like this provide the over-55s with greater choice, enabling them to remain active, connected and independent within their local communities.”
Construction is due to commence this summer, with the first homes expected to be put on the market next summer.
Earlier this summer, care home developer North Bay Group secured a £13.3m facility from Paragon Development Finance to fund a development in Chester.
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