Cogress, the open equity investment firm for property, has secured GBP4.5m of equity for a mixed-use development in Chalk Farm. The latest development acquires a 27,360 sq ft site at 4-8a Haverstock Hill & 45-47 Crogsland Road to build part of a four and part five-storey building, with 11,367 sq ft of commercial space, and 19 flats. The development is Cogress’ fifth partnership with prestigious luxury home builder, Bellis Homes, and is expected to last 27 months. View article
Cogress, the open private equity firm focused on property, has completed its third successful exit of 2017 and delivered significant returns for investors in the process. The company has sold its interest in Eaton Mansions near Sloane Square for £8.1m after it raised £1.7m equity on its platform for the development back in 2016, meaning early investors have secured as much as a 23% return over the duration of the project.
Cogress is partnering with developer Asquith Spencer to convert a Grade II listed building, which overlooks the Warwick Square conservation area, from office space into five luxury apartments totalling over 5,600 sq ft. The developers have earmarked an April 2018 completion for the south-west London project which it hopes to sell on for £10m.
Cogress has raised £2.56m in less than four hours to fund the conversion of a building in south-west London. The amount raised broke Cogress’ own record with investors expected to see a return on their equity in just 18 months.
Despite finishing 2016 reasonably strongly, the outlook is bleak as the weak pound continues to push up inflation. The UK risk outlook is expected to deteriorate still further from the two downgrades made since the EU referendum, and although uncertainty looms, the immediate impact of the vote has already taken shape. But what about its impact in the long term?
Tal Orly, CEO & Co-Founder of Cogress, talks to Finance Digest about the UK’s economic and political changes over the past 12 months. Although Brexit has brought an overwhelming mood of uncertainty, Tal stresses that uncertainty doesn’t need to be synonymous to negativity. We live at a time of tremendous need for expertise.
With the end of a topsy-turvy year in sight and 2016’s Christmas festivities, Tal Orly, Chief Executive Officer of Cogress, shares his thoughts on the year gone by in a candid interview with Bdaily – which businesses he admires the most and the biggest challenges companies faced in 2016 after the Brexit announcement.
Ahead of the first Autumn Statement Announcement, Bdaily canvassed the views of a selection of London businesses, including Cogress, to find out their thoughts on the matter. Tal Orly, CEO of Cogress, discusses the market’s resilience against Brexit-induced fears that have only exacerbated prolonged stagnation, and are further amplified by Stamp Duty Land Tax (SDLT) measures. He goes on to say, that rather than providing a much-needed boost to the public coffers, the SDLT has led to an eight per cent decline in transactions, which has acutely impacted prime properties worth more than £1 million.
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