London property market resilient as Cogress helps underwrite £4.1m of equity for a mixed-use property in Surbiton
High demand from property investors for greater London property has seen Cogress secure £4.1m of equity to fund a new mixed-use property development in Surbiton, Kingston upon Thames.
This latest project consists of a 50,372 sq-ft site, boasting 49 residential units and one commercial unit pre-let to The Co-op on a 15-year lease. The residential units comprise of: 39 private units, ranging from one bed flats and two bed maisonettes to three and four bed houses; and ten affordable units, comprised of one, two and three bedrooms.
The Surbiton project is set to be highly desired by buyers given the area’s affordability, plenitude of independent shops and cafés, excellent schools and close proximity to Central London. With a targeted exit date of February 2020, the development is expected to sell for £32.9m.
With its pioneering proposition that offers access to multi-million-pound property investment opportunities usually reserved for large investors, Cogress enables its network of more than 6,000 qualified investors to become involved in the project with a minimum investment of £20,000.
Tal Orly, Founder & CEO of Cogress UK, said:
“We endeavour to consistently broaden our portfolio and bring our network of qualified investors the best possible investment opportunities across all of greater London. 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.”