The £30m scheme is being developed by retirement developer Beechcroft but will be available on the open market.

This site will include 27 high-quality apartments and nine houses, combining new builds with a renovated Grade II listed building. 

Construction is set to begin imminently with the first homes expected to be ready for sale in Spring 2026.

The scheme will include extensive communal gardens and a tennis court, with the newly-built residential units also featuring Beechcroft’s signature Healthihouse specification, designed to promote a living environment conducive to good health.

Each new property will feature light switches and door handles with antimicrobial properties, non-porous worksurfaces with built-in protection to reduce bacterial growth, with bathrooms fitted with hygienic, easy-to-clean wall panelling.

•   The Finance Professional Show 2024: The Video
•   Paragon provides MacKenzie with £9m facility
•   Paragon funds sustainable Exmouth scheme with £9m

The new homes will also have a whole-house ventilation system that delivers filtered air while helping to reduce energy bills, alongside a kitchen water filtration system.

The deal was led by James Helmore, relationship director, and Megan Andreou, portfolio manager, at Paragon.

“We’re proud to support Beechcroft in delivering this outstanding scheme in Ascot,” said James.

“The company’s reputation for quality and attention to detail is second to none, and this development will provide much-needed, thoughtfully designed in a prime, in-demand location.”

Chris Thompson, managing director at Beechcroft, added: “We’re delighted to be working with Paragon Bank on this exciting project.

“We appreciate the bank’s flexible funding approach and its recognition of the growing later living sector will prove invaluable as we plan for future developments in the retirement sector.”