National law firm Bevan Brittan has advised on a loan deal which will support the development of a new luxury wedding venue on a scenic North Yorkshire farm.
The legal experts assisted Endure Fund on the property development loan to the owners of High Brockholme Farm.
The funds will enable Heather and Tony Hugill to convert the former stables at High Brockholme Farm into a high-end wedding venue. High Brockholme Barns, which has far-reaching views over the Hambleton Hills, will host weddings for up to 150 guests and is already taking bookings. It will be operational by March 2024.
The three-barn development will take 18 months to complete and includes an events barn housing the ceremony room, a six-bed detached house for up to 12 guests and four three-bedroom units, as well as a honeymoon suite that together will accommodate up to 26 guests.
The new wedding and events business builds on weddings previously hosted at the farm in a marquee. It will be run by Heather Hugill’s daughter Rachel and her husband Alan Scaife, who between them have over 20 years’ experience in the hospitality, events and wedding industry.
Lyndon Campbell, a specialist property partner and head of Bevan Brittan’s Leeds office, advised Endure Fund on the development loan. He said: “Demand for luxury wedding venues in stunning locations like North Yorkshire remains high, particularly when they offer on-site accommodation. This looks set to be an excellent diversification opportunity for High Brockholme Farm. Working alongside Endure Fund, we advised on the legal aspects of the property development loan, which makes this exciting new business opportunity possible.”
Endure Fund was set up in 2019 to provide bridging and property development loans. Gary Macnair from Endure Fund said: “When Heather shared the business plan to develop a high-class wedding venue, it was evident they were creating a location that will be in high demand allowing couples to enjoy a picture-perfect wedding. Unfortunately, her attempts to secure funding through the traditional high street banks had been unsuccessful due to the business being seen as a start-up. We took a more pragmatic view about the business being created and with Endure’s support the Hugills can look forward to their dream becoming a reality.”