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Cogress funds new mixed-use property scheme in Surbiton

Private equity firm Cogress has secured £4.1 million of equity to fund a new mixed-use property development in Surbiton, Kingston upon Thames, driven by high demand from property investors for homes in Greater London.

The latest project funded by Cogress is made up of a 50,372 sq-ft site, which boasts 49 residential units and one commercial unit pre-let to the Co-op on a 15-year lease.

The residential units include 39 private abodes, ranging from one bed flats and two bed maisonettes to three and four bed houses, and 10 affordable properties, made up of one, two and three bedroom homes.

Surbiton, one of outer London’s more affordable hotspots, is home to high-performing schools and a number of independent shops and cafes, as well as strong transport links to Central London.

The project is expected to attract a significant number of buyers seeking affordable homes, with a planned exit date of February 2020. The development is anticipated to sell for around £33 million.

Cogress will be joining forces with real estate investment and development company Ensco Homes to develop the units in question.

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

“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.”

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