Cogress, an “open equity investment platform for property”, has pulled off a £1.35m fundraise within 24 hours to back a high-end four-townhouse scheme in Fulham.
The deal – to fund a 5,909 square foot luxury residential project by south west London developer The nu: group on Filmer Road, SW6 – has a targeted exit date of October 2017, and aims to realise £7m at sale. The development will include off-street parking and landscaped gardens.
Founded in 2009, Cogress has made 25 investments in the UK so far, and claims to have 1,600 registered investors (with a minimum investment of £20,000). The platform’s first UK exit – on a residential development in Golders Green, North London – apparently achieved a 25.07% annual return, while the average expected return on current UK investments is 24%+ annually.
Tal Orly, CEO of Cogress UK: “The enthusiasm with which our community of more than 1,600 registered investors responded to this project shows the strong appetite for intelligent investment opportunities in a market that continues to be incredibly dynamic. Following a successful first year in the UK, where we built a portfolio of more than 25 investments, and worked with some of the top developers in the country, this project in Fulham once again perfectly reflects our commitment to securing the best investment opportunities for our network of investors, while contributing to the wider growth of quality housing in London.”