Cogress UK raises £4.5m to fund luxury London property development
Cogress has raised £4.5m of equity to fund a luxury development which encompasses 19 high-end apartments and over 10,000 sq-ft of commercial space in Chalk Farm.
The open equity property firm has a target duration of 27 months to complete the project which is expected to reach a gross development value (GDV) of £24.65m.
The development is said to acquire a 27,360 sq-ft site at 4-8a Haverstock Hill and 45-47 Crogsland Road to build part of a four and part five-storey building, with 11,367 sq-ft for commercial space, and 19 flats.
The founder and CEO of Cogress, Tal Orly, commented on the news: “2017 has been a great year for Cogress, as we’ve now invested in more than 40 projects in the UK with a gross value of over £800m.
“It’s great to be working with Bellis Homes again delivering upmarket developments in London’s most sought-after locations.”
This is now Cogress’ fifth partnership with luxury home builder, Bellis Homes. The one, two and three-bedroom apartments are said to be highly desirable for buyers given the property’s location with views of Primrose Hill and Camden Market.
The new development is directly opposite Chalk Farm Station offering direct access to central London.