The 50,372 sq ft site will provide 49 residential units and one commercial unit pre-let to the Co-op on a 15-year lease.
The residential properties will include 39 private units consisting of one-bed flats, two-bed maisonettes, as well as three- and four-bed houses.
In addition, there will be 10 affordable housing units comprising one-, two- and three-bedroom properties.
The private equity company will be working with London-based real estate investment and development specialist Ensco Homes on the project.
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The development has an expected sale value of £32.9m and a target exit date of February 2020.
Tal Orly, founder and CEO at 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.
“While 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.”