The former head of Lambert Smith Hampton’s debt brokerage team has launched a new property finance advisory business with backing from Fairacre.
Nick Russell, who joined LSH in 2014 from bridging specialist West One, has founded Creation Property Finance, with a goal to advise on £1bn of deals within three years.
The new firm has been launched with support from commercial property company Fairacre, which has provided funding to help grow the business and will lend its expertise as well as help with introductions.
Oliver Kaufman will become a director at Creation on top of his current role as a director at Fairacre.
Russell said the new business would look to differentiate itself by combining “financial brokerage skills, property knowledge and banking expertise”.
It would offer more than debt brokerage by advising clients all the way through the lending process from enquiry to drawdown and beyond, he added.
“We don’t want to sit here with the Yellow Pages and hope for the best. We want to grab market share by offering a better service,” he said.
Creation will focus mainly on deals of between £2m and £50m, across bridging, development and investment finance.
The company will seek to cut the time between enquiry and receipt of funds for borrowers by “managing the process as much as possible as early as possible”, explained Russell.
He said that the experience of growing LSH’s property finance arm, which launched in 2014 when he joined the firm, had inspired him to launch his own business.
“I enjoyed growing the department and felt the ability to be nimble that you have running your own business with talented individuals would be too good an opportunity to pass up,” he said.
The company has hired Chloe Skae, who worked in property finance at Nationwide from 2010 until it pulled out of commercial property lending a year ago, as an associate.
Russell said it planned to recruit more staff in the coming months.
9 June 2017
10 March 2017
14 July 2016
23 January 2015