Beechcroft secures backing from Paragon Bank

Beechcroft has secured a £10 million revolving credit facility to support its latest Special Projects’ development in Ascot. 

Construction is due to start imminently on the development of 27 high-quality homes, including both houses and apartments, some of which will be newly built whilst others will be created by Beechcroft’s sensitive restoration and conversion of a Grade II listed building.

Whilst Beechcroft is perhaps best known as a specialist retirement developer, the Ascot development, created by the company’s Special Projects division, will be available on the open market but with full-time residency restricted to the over 16s.

Located less than five minutes’ drive from Ascot High Street, the new development will be set within beautifully landscaped communal gardens which will include a tennis court. Each new home will be finished to the highest standards and will feature Beechcroft’s Healthihouse™ specification, designed to promote a living environment conducive to good health. 

Light switches and door handles will have antimicrobial properties, worksurfaces will be non-porous and designed to reduce bacterial growth and bathrooms and en-suites will be fitted with wall panelling that is both hygienic and easy to clean. In addition, homes will benefit from a whole-house ventilation system that delivers filtered air and helps reduce energy bills.

“We are proud to support Beechcroft in delivering this outstanding scheme in Ascot,” comments James Helmore, Relationship Director and Megan Andreou, Portfolio Manager at Paragon Bank. “The company’s reputation for quality and attention to detail is second to none and this development will provide much-needed, thoughtfully designed homes in a prime in-demand location.  As well as providing a funding package comprising a £10 million revolving credit facility, we have agreed additional funding for Beechcroft’s forthcoming later living scheme at Caversham Park, near Reading.”