Mr Ramstedt joined Lar in March 2018 as director of finance and corporate services from Scottish Futures Trust, where he specialised in housing projects, before taking on the job of managing director at subsidiary Lar Operations CIC. He will now combine his current role at the subsidiary with the new group-wide role of COO.

Chief executive Ann Leslie said: “Mikko has a deep understanding of the housing sector and was, in fact, one of the authors of the business case for setting up Lar in the first place.

“He has also been instrumental in our growth and success, which has resulted in two subsidiary companies, nearly 800 homes occupied across 10 local authority areas and a growing staff team. His expertise will be crucial to further growth for Lar going forward.”

Mr Ramstedt said: “From a standing start nearly nine years ago Lar has gone from a concept of how to develop quality mid-market homes using a different financial model, to an important and influential player in the housing sector.

“I’m immensely proud of what we have achieved so far and greatly look forward to contributing to further success.”