The facility from OakNorth will support the development of a new 25-bedroom aparthotel, located in Harrogate’s town centre.

The new aparthotel will be operated by Beyond Aparthotels.

Once completed, the scheme will offer ‘eco-conscious’ accommodation with flexible stays for leisure and business travellers.

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.

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“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.”

Timothy Smith, managing director at Countrylarge, commented: “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 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.”