Cogress raises £4.1m of equity for mixed-use property scheme in Surbiton

Cogress, the London-based property investment firm, has secured £4.1m of equity to fund a new mixed-use property development in Surbiton, Kingston upon Thames.

This latest project comprises a 50,372 sq-ft site, featuring 49 residential units and one commercial unit pre-let to The Co-op on a 15-year lease.

The residential units consist of 39 private units, ranging from one bed flats and two bed maisonettes to three and four bed houses; and ten affordable units, comprising of one, two and three bedrooms.

With a targeted exit date of February 2020, the Surbiton development is expected to sell for £32.9m.

With its proposition that offers access to multi-million-pound property investment opportunities usually reserved for large investors, Cogress enables its network of more than 6,000 qualified investors to become involved in the project with a minimum investment of £20k.

Tal Orly, founder and CEO of Cogress UK, said: “We endeavour to consistently broaden our portfolio and bring our network of qualified investors the best possible investment opportunities across all of greater London.

“Whilst the capital’s prime central market struggles with uncertainty, we are striving to fulfil investor demand for more diverse development opportunities, like this new property in Surbiton.”