Cogress announced a £2.6m exit on a residential development in Frimley, Surrey
This exit comes against the backdrop of a year that saw the wider property market struggle with instability, mired by Brexit uncertainty. Cogress bucked the trend, raising more than £45 million in equity for the development of 17 projects in the UK since Brexit, with a gross development value (GDV) of over £260 million.
The company also successfully exited three additional developments in prime London locations including Sloane Square, Chelsea and Kensal Green, defying the downward trend of the wider central London market.
Cogress’ success has been bolstered by identifying demand from investors to diversify beyond Prime Central London through extensive market research to pinpoint key areas for investment. In doing so, the company extended its focus to areas such as Bristol and Brighton, where the open equity firm for property invested £1.7m and £5.5m in new developments respectively.
The company’s most recent exit in Frimley is a continuation of this success, securing a 23.52% return for investors for the duration of the 18 months long project. Cogress had managed to raise £2.1m in equity for the conversion of an office building to a residential development near Frimley’s town centre, carried out by development company Magna Group.
In 2017, Cogress also signed key partnerships with leading and 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. The company also worked with Savills and Knight Frank to educate their investors, developers and partners about the opportunities and threats facing the UK property market.
With more than 50 projects in the UK totaling a GDV of over £900m, £150m+ of equity raised and more than 5,000 qualified investors registered since its launch, Cogress has a proven track record of matching carefully vetted opportunities with qualified investors.
With its pioneering proposition that offers access to multi-million-pound property investment opportunities usually reserved for large investors, Cogress has enabled its network of more than 5,000 qualified investors to become involved in the development of a mix of residential, commercial and student accommodation projects with a minimum investment of £20,000.
Tal Orly, Founder and CEO of Cogress UK said:
“With our fully accountable and transparent business model we have managed to win investors’ trust and capitalise on the strong demand for smart investment opportunities. From expanding geographically into newproperty markets to raising a significant amount of equity and rapidly increasing our investor network, Cogress UK experienced a year of tremendous growth across the board in 2017.
“The recent Surrey exit is very exciting as it demonstrates yet another addition to our stellar track record in delivering ROI for our investors. It caps a brilliant 12 months, and is the ideal springboard for an even better 2018.”
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