Cogress UK concludes 2017 with £2.6m exit on Surrey ...

Property equity firm Cogress UK closed the year successfully with a £2.6 million exit on a residential development in Frimley, Surrey.

Cogress, which this year secured a 23.5% return for its investors, raised more than £45 million in equity for the development of 11 projects in the UK in the past 12 months. In what has been a productive year for the firm, Cogress has ended 2017 with a gross development value (GDV) of over £260 million. It has also successfully exited three additional developments – Eaton Mansions, Dilke Street and Harrow Road.

The conversion of an office building to a residential development near Frimley’s town centre raised £2.1 million in equity, with the 18-month project carried out by development company Magna Group.

By diversifying its property portfolio and broadening its focus from some of London’s prime locations – Hampstead, Battersea and Hackney – to other property hotspots, Cogress managed to invest £1.7 million in Bristol and £5.5 million in Brighton.

“We have managed to win investors’ trust and capitalise on the strong demand for smart investment opportunities,” said Tal Orly, founder and chief executive of Cogress UK.

He continued: “From expanding geographically into new property markets to raising a significant amount of equity and rapidly increasing our investor network, Cogress UK has experienced a year of tremendous growth across the board.”

The company has also partnered with established debt providers such as OakNorth, Secure Trust Bank (STB), Octopus Property and Avamore, as well as trusted specialist developers including K-R-E, Bellis Homes, Ankor, Gold Section and Godfrey London.

“This recent exit is very exciting as it demonstrates yet another addition to our stellar track record in delivering ROI for our investors,” Orly continued.

“It caps a brilliant 12 months, and is the ideal springboard for an even better 2018.”