Paragon Development Finance has provided a £44.8m facility to support Beechcroft's plans for a later living community in Shenley, Hertfordshire, continuing a lending relationship that now spans four separate schemes.
The funding covers the acquisition of a site on London Road, secured in June 2026, and the construction of a development comprising 88 houses and apartments for the over-55s, alongside affordable housing. Construction is expected to begin later this year, with the first homes due to launch in late 2027.
Located approximately 16 miles north-west of central London, Shenley sits within a village setting while retaining strong transport connections. Borehamwood and Radlett railway stations offer direct services to London St Pancras International, and the M25 is around three miles away. Shenley Park, which features an orchard, meadow, woodland walks and a walled garden with an amphitheatre, lies within easy reach of the site.
The development will include a mix of high-specification homes designed to support independent living. On-site facilities will include a communal lounge, a guest suite and a resident estate manager. All apartments will have lift access, and each home will include a terrace, balcony or private garden.
Sustainability features include air source heat pumps and electric vehicle charging points. Landscaped communal gardens with mature trees, new planting and habitat features are also planned, with the aim of supporting local wildlife and increasing biodiversity.
ONS data shows Hertfordshire has more than 216,000 residents aged 65 and over, and the scheme is positioned to address growing demand for homes that allow residents to live independently within an established community. The site is within walking distance of Shenley village centre, where local amenities include shops, a pub and recreational facilities.
"Our vision for Shenley is to create a community of thoughtfully designed homes that complement the character of the village," said Chris Thompson, managing director at Beechcroft.
"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."
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