Major Harrogate project unveiled to build new 'eco-hotel' with luxury London brand
A Harrogate-based boutique property developers has received a £3.6m loan to develop a new state-of-the-art apartment hotel in the centre of town.
The multi-million pound loan from OakNorth will support the development by Countrylarge of a new 17-key, 25-bedroomed aparthotel, operated by Beyond Aparthotels.
Set to be located directly opposite Victoria Shopping Centre, this major investment in the heart of Harrogate reflects the continued growth of the UK’s serviced apartment and aparthotel sector.
Headquartered in Harrogate, Countrylarge will be working on the project with London-based Beyond Aparthotels, the UK’s first carbon-neutral serviced apartment brand.
Managing director Timothy Smith, who founded Countrylarge in 2007, said: “This scheme represents a unique opportunity to deliver something new to Harrogate, a premium aparthotel in a town with high visitor demand but limited modern accommodation.
"The location is outstanding, and the support from the OakNorth team has been fantastic.
"Their understanding of the regional market and appetite to back entrepreneurial developers like us made them an ideal funding partner.”
Countrylarge specialises in residential, student hospitality and mixed-use schemes across Yorkshire and the North of England and has delivered more than £250m of exceptional quality developments to date.
Beyond Aparthotels specialises in sustainable apartments boasting the best toxic-free materials, state of the art appliances and solar powered energy.
Once complete, the new aparthotel in Harrogate will offer eco-conscious accommodation with high-quality, flexible stays for leisure and business travellers.
James Fry, the founder of Beyond Aparthotels which launched its first aparthotel business in Fitzrovia, London in 2021, said: “We are delighted to be operating this prime location site that is being re-purposed to provide generously sized rooms that range from studios to three-bedroom units."
OakNorth Bank is a British bank founded in 2015 providing finance for scaling businesses to drive economic impact.
James Espley, senior director of Property Finance at OakNorth, said: “We’re delighted to support this high-quality regional developer on a prime asset in Harrogate’s vibrant town centre.
"Under Tim’s leadership, Countrylarge has gained a hugely impressive track record.
"Coupled with the sector’s strong growth potential moving forward, that gave us strong conviction in the scheme’s potential.”