Cogress ends 2017 business year with £2.6m deal on Surrey development

Cogress UK has announced a £2.6m exit on a residential development in Frimley, Surrey.

This has closed 2017 for the company, a year which saw the business raise £45m in equity in the development of 11 UK projects worth over £260m. It has secured a 23.52 per cent return for investors for the duration of the 18 months long project.

Cogress has raised £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.

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 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.”

In 2017, Cogress signed key partnerships with established debt providers like OakNorth and Avamore, as well as specialist developers including Bellis Homes and Godfrey London.

The company has diversified its property portfolio, too, by focusing on the likes of Bristol and Brighton, instead of its prime locations such as Hampstead, Battersea and Hackney.

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 £20k.

Orly concluded: “This recent exit is very exciting as it demonstrates yet another addition to our 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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