Paragon Development Finance has provided £15.9 million in funding for the acquisition and development of a 35-home later living scheme in Hartley Wintney, Hampshire.
The facility, arranged by Oliver Powlesland with support from Amanda White, represents the FTSE 250 lender’s third transaction with SME developer Beechcroft. The funding covers the acquisition of the former Grey House School site on Mount Pleasant, where 31 two-bedroom apartments and four terraced houses will be constructed for the over-55s market.
Demographic trends
Census data shows residents aged 50 to 64 in the surrounding area grew by 16.5% between the last two censuses, indicating rising demand for purpose-built housing tailored to older occupiers. This demographic shift mirrors broader trends affecting UK property market performance in recent months.
Most homes in the development will include private outdoor space, either a garden, terrace or balcony, with lifts serving all apartment floors. Communal facilities will include a residents’ lounge, guest suite and an on-site office providing estate management and maintenance support.
Location and connectivity
Hartley Wintney village centre is within walking distance of the site, with independent shops, cafés, pubs and everyday amenities nearby. The development also sits close to Hartley Wintney Common, while Fleet and Winchfield railway stations both offer direct services to London Waterloo in approximately one hour. The M3 provides road access, with a link to Heathrow Airport.
Sustainability features built into the scheme include solar photovoltaic panels, air source heat pumps, electric vehicle charging points, and biodiversity enhancements including additional planting and the installation of bird and bat boxes.
Construction timeline
Construction is scheduled to start in summer 2026, with the first homes expected to reach the market the following summer. The development sector has faced challenges amid mortgage rate pressures affecting broader housing market activity.
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.”
Oliver Powlesland, senior relationship director at Paragon Development Finance, said: “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.”
The transaction highlights continued lender appetite for later living schemes as the UK’s population ages and demand for age-appropriate housing increases.
