Paragon Development Finance has agreed a £15.9m facility to fund Beechcroft’s acquisition and development of a 35-home later living scheme in Hartley Wintney, Hampshire.
The transaction is Paragon Bank’s third with Beechcroft and will fund the purchase of the former Grey House School site in Mount Pleasant, as well as its redevelopment for the over-55s market.
The facility was led by Paragon senior relationship director Oliver Powlesland, with support from Amanda White.
Plans for the site comprise 31 two-bedroom apartments and four terraced houses. Most of the homes will have a private garden, terrace or balcony, while lifts will serve every apartment floor.
Construction is scheduled to begin in summer 2026, with the first homes expected to be released for sale in summer 2027.
The number of people aged between 50 and 64 in the local authority area rose by 16.5% between the two most recent censuses, according to Office for National Statistics data.
The development will be within walking distance of Hartley Wintney village centre and Hartley Wintney Common. Fleet and Winchfield railway stations provide services to London Waterloo, while the site also has access to the M3 and Heathrow Airport.
The scheme will include solar photovoltaic panels, air-source heat pumps and electric vehicle charging points. Beechcroft also plans additional planting and the installation of bird and bat boxes.
Shared facilities will include a residents’ lounge, guest suite and an on-site estate management and maintenance office.
Chris Thompson, managing director at Beechcroft, says: “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 on-site facilities tailored to the needs of today’s over 55s.”
Powlesland adds: “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.”
