The 24-month loan will be used as a holding facility by the borrower while they review a number of redevelopment options for the building, including the implementation of the existing aparthotel consent, or a total redevelopment for continued office use.

Andrew Smith, co-founder of Unbranded Finance, said: "We used our in-depth knowledge of the local market and in-house property expertise to very quickly underwrite this transaction.

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“The deal was executed without the need for an external valuation, allowing drawdown to be accelerated, which demonstrates our flexible approach to delivering rapid and straightforward funding solutions.”

Andrew White, director at Courie Investments, added: “Unbranded Finance delivered exactly what they said they would. 

“Transactions like this always have their complications, so it is always refreshing to deal with a lender who takes such a pragmatic approach with a can-do attitude.”