A new interpretation of the horizontal to vertical (H/V) spectral ratio in terms of the Diffuse Field Assumption (DFA) has fuelled a resurgence of interest in that approach. The DFA links H/V measurements to Green’s function retrieval through autocorrelation of the ambient seismic field. This naturally allows for estimation of layered velocity structure. In this contribution, we further explore the potential of H/V analysis. Our study is facilitated by a distributed array of surface and co-located borehole stations deployed at multiple depths, and by detailed prior information on velocity structure that is available due to development of the Groningen gas field. We use the vertical distribution of H/V spectra recorded at discrete depths inside boreholes to obtain shear wave velocity models of the shallow subsurface. We combine both joint H/V inversion and borehole interferometry to reduce the non-uniqueness of the problem and to allow faster convergence towards a reliable velocity model. The good agreement between our results and velocity models from an independent study validates the methodology, demonstrates the power of the method, but more importantly provides further constraints on the shallow velocity structure, which is an essential component of integrated hazard assessment in the area.