A £44.8 million facility from Paragon Development Finance will support Beechcroft’s plans to bring a new later living community to 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. 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.
Located in the Hertfordshire village of Shenley, approximately 16 miles north-west of central London, the scheme will provide a mix of high-specification homes designed with retirement in mind.
The development will incorporate a range of sustainability features, including air source heat pumps and electric vehicle charging points. Extensive, landscaped and fully maintained communal gardens, featuring mature trees and new planting alongside new habitat features, will also support local wildlife and increase biodiversity.
Demand for specialist housing for the over 55s in the region continues to grow, with Office for National Statistics (ONS) data showing that Hertfordshire is home to more than 216,000 residents aged 65 and over. The development will help address the increasing need for homes that enable people to live independently while remaining connected to their local community.
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 to handle the day-to-day administration of the development and offer help and advice to residents. All apartments will have lift access and each home will feature a terrace, balcony or private garden.
The scheme is ideally situated within walking distance of Shenley village centre, offering a range of local amenities including shops, a pub and recreational facilities. Residents will also benefit from excellent transport connections, with Borehamwood and Radlett railway stations providing direct links to London St Pancras International, while the M25 motorway is located approximately three miles away. Nearby green spaces include Shenley Park, a community space, which features an orchard, meadow, woodland walks and a walled garden with an amphitheatre.
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.
“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.
