David Hehir, the relationship director at Assetz Capital who led the deal, said: “I was delighted to be able to support the re-finance of the ibis Styles Glasgow Central Hotel with a £5m debt package.

“We worked closely with Maven Capital Partners to facilitate its delivery which re-affirms our commitment to the hotel sector in Scotland and the wider UK market.”

The firm’s recent completion of this deal coincided with a second £7m development finance deal, which will enable the ground up build of 3 luxury, detached properties in Surrey.

Speaking on both deals, Andrew Fraser, chief commercial officer at Assetz Capital, said: “These two most recent transactions for £12m, highlights our expertise across all facets of the property sector. It showcases our capability to successfully support business no matter the type of project or location.

“From financing the hotel and leisure industry to enabling ambitious ground up residential property developments across every region of the UK, the team at Assetz Capital have decades of property banking experience to enable these deals to happen for our brokers and customers.

“We are extremely lucky to have in market boots on the ground to enable us to support all regional property investment and development funding.”

These two deals follow the recent announcement from Assetz Capital of the launch of their enhanced, initial day 1 funding for development finance schemes up to 70% LTGDV. This initiative provides housebuilders with critical funding. The offer is available in Scotland through the firm’s locally based team.

Since its inception in 2013 Assetz capital has provided over £1.7 billion in funding to UK housebuilding and development – equating to supporting the construction of one in every 12 new homes built by SME housebuilders.

Over the next three years Assetz Capital is gearing up to surpass the milestone of £2bn in funding.