It has been reported that a new property company has been launched by the former chief executive of Kilmartin Group, the Scottish property firm that collapsed earlier this month leaving Lloyds Banking Group facing losses of £200 million.
Mark Hancock has put together a team of property heavyweights to form Talisman Capital, having left the doomed Kilmartin Group a year ago – and according to newspaper, the Scotsman “well before the problems that led to it collapsing” had begun to show.
Prior to working at Kilmartin, Mr Hancock established development and investment firm Amerdale in 2004 with his business partner Adam Kerr, who is also involved in setting up the new venture.
Mr Hancock sold Amerdale sold to Kilmartin in 2007, having built a £100 million portfolio.
Another former Kilmartin face will be joining the property duo, Frank Gillespie, will now be executive director at Talisman Capital, having previously held the position of development director at Kilmartin.
Mr Hancock has said: “We are very excited to launch Talisman at such an opportune time. This, coupled with our team’s track record and contact base, ideally places us to capitalise from the current weaknesses in the UK property market.”
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