Hackney

£1.8m raised to fund Hackney development



Open equity platform Cogress has secured £1.8m to fund a new residential and commercial property development in Hackney.

The site on Tudor Road will comprise 4,725 sq ft of office space, 19 residential units and is expected to sell for £8.1m.

Cogress will be partnering with property developer Kirk Real Estate Ltd, which has already sold seven of the residential units, and has targeted an exit date of September 2018.

“We are constantly striving to diversify our portfolio to bring our growing network of qualified investors the best investment opportunities across London,” said Tal Orly, founder and CEO of Cogress UK.

Hackney has become one of London’s most sought-after areas and has seen a 700% average house price increase over the past 20 years, partly due to the impact of the 2012 Olympic Games.


47-49 Tudor Road, Hackney

“While the wider market endures uncertain times, we must be agile in adapting to investor demand for more affordable development opportunity, like this property on Tudor Road, Hackney,” Tal added.

“Our continually expanding portfolio reiterates the trust our growing network of qualified investors has in Cogress.”

Cogress allows qualified investors to access £10m plus property investments opportunities, usually reserved for large investors with £20m plus portfolios.

The platform recently raised £2.56m in less than four hours for a property conversion in south-west London.


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