- Founded in 2007 by Timothy Smith, Countrylarge specialises in residential, student hospitality and mixed-use schemes across Yorkshire and the North of England;
- Headquartered in Harrogate, the boutique property developer has delivered over £250m of exceptional quality developments to date;
- The £3.6m loan from OakNorth will support the development of a new 17-key, Beyond Aparthotels operated, aparthotel, located in Harrogate’s historic town centre;
- The UK’s serviced apartment and aparthotel sector continues to attract significant investor interest and is strategically positioned for growth moving forward[1].
OakNorth has provided a £3.6m loan to Countrylarge, the Harrogate-headquartered boutique property developer.
Founded in 2007 by Timothy Smith, the firm specialises in residential, student, hospitality and mixed-use schemes across Yorkshire and the North of England, delivering over £250m of exceptional quality developments to date and has a secured delivery pipeline of c£200m GDV.
With an 18-year track record, Countrylarge has developed partnerships throughout the UK with established developers and institutional investors, having also done so ethically and with a view to leaving a strong social and architectural footprint across the North of England.
The £3.6m loan from OakNorth will support the development of a new 17-key, 25-bedroomed aparthotel, located in the centre of Harrogate’s historic town centre.
The site benefits from a prime location in one of Harrogate’s busiest shopping areas, directly opposite the Victoria Shopping Centre and close to both the town’s bus and train stations. The new aparthotel will be operated by Beyond Aparthotels, the UK’s first carbon-neutral serviced apartment brand. Once completed, the scheme will offer eco-conscious accommodation with high-quality, flexible stays for both leisure and business travellers.
Timothy Smith, Managing Director at Countrylarge, commented on the transaction:
This scheme represents a unique opportunity to deliver something new to Harrogate, a premium aparthotel offering in a town with high visitor demand but limited modern accommodation. The location is outstanding, and the support from James and 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.
James Fry, Founder of Beyond Aparthotels commented:
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. We will operate the site to the highest low impact and wellness standards enabling guests to live well, tread lightly and rest easy in the heart of Harrogate.
James Espley, Senior Director of Property Finance at OakNorth, added:
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 developed a hugely impressive track record, that coupled with the sector’s strong growth potential moving forward, gave us strong conviction in the scheme’s potential. We look forward to seeing the scheme brought to life and hope to support more of Countrylarge’s projects in the future.
