Archive for June, 2012

20th June Post Auction News

Posted by

The Price Is Right at Andrews and Robertson’s June Auction.Well priced vacant industrial stock, tenanted retail units and residential properties in greater London and the Home Counties ticked buyer’s boxes at Andrews and Robertson’s auction, where revenues peaked at ?7.8m on 20 June.The Grand Connaught Rooms sale brought 61 residential and secondary commercial lots to the market and 41 sold, achieving a 68% success rate.

Robin Cripp, auctioneer, said: “Our June sale was one of our smaller events and brought higher volumes of lower value stock than in previous months so we were pleased by the outcome.

“The pricing was fairly low on some properties to reflect risk or the need to upgrade but it shows that almost anything will sell if priced correctly.
“Some vacant industrial lots sold which is quite unusual and bucked the general trend at present. They were low value and more easily self-funded which added to their appeal, especially for private investors looking for rental yields that are well above those achieved by keeping money on deposit.

“Buyers are being choosy and the price of the property must reflect back to them whether they have inherent difficulties, risks, or whether they are in good condition. It all comes down to price and location and risk.”

A number of residential properties in popular catchments including a long leasehold two bedroom garden flat provoked high levels of interest prior:

  • Flat 2, 30 Maida Vale, London, W9: a long leasehold two bedroom flat in a renowned catchment area was inspected by more than 40 prospective bidders. Sale price ?455,000: Guide Price ?385,000 plus.
  • 47 Onslow Road, Richmond, Surrey: A long leasehold two bedroom garden floor flat. Guide Price ?375,000 plus Sale Price: ?390,000
  • 27 Melbourne Road, Ilford, Essex: By order of Mountview Estates Plc A freehold four bedroom terraced house viewed by more than 50 people resulting in a sale price of ?425,000 against a guide price of ?350,000 plus.
  • A builder’s yard, office and storeroom in 2 Torr Road, Penge, SE20, in the same ownership for over 14 years stimulated persistent bidding with a keen guide price of ?45,000. It made?116,000.
  • 113-115-117 Kirkdale, Sydenham, SE26. An LPA Receivership comprising a triple fronted building with retail on the ground floor and all the flats above sold off. The retail units were offered in shell condition requiring a complete refit including new shop fronts. There were other issues with the building in relation to outstanding works which had cost implications. Priced to create interest at ?65,000 plus it sold for ?180,000.
  • 10 Brighton Road, Crawley, RH10. An LPA Receivership sale this freehold investment, a ground floor restaurant with a maisonette above was guided at ?170,000 plus and sold for ?239,000, an initial yield of 7.7%.

Our 26th July auction will be held at The Hotel Russell, Russell Square, WC1.

We look forward to seeing you in the room.

Robin Cripp
Chairman & Senior Auctioneer

Andrews & Robertson’s Fourth Sale of 2012

Posted by

Welcome to Andrews and Robertson?s Jubilee Catalogue incorporating a diverse range of residential and secondary commercial lots, including a mixture of tenanted and vacant stock.

With the Diamond Jubilee on the horizon and as we put this catalogue together our staff have been reflecting on some of the changes of the last 60 years.

As one of the capital’s longest established auction firms Andrews and Robertson were celebrating our 97th birthday in 1952 when Queen Elizabeth II came to the throne. Established in 1855 in Camberwell, SE5, our firm has celebrated two Diamond Jubilees, the first being Queen Victoria’s in 1897.

During this time there has been political, social and economic transformation including huge changes in the price of property. For anyone investing in bricks and mortar 60 years ago and who still hold the keys to their property then the long term trends have been magnificent.

The Nationwide house index shows that average prices are now 68 times higher than when the Queen started her reign some 60 years ago, while London house prices have increased by 1,782 per cent in the last 35 years. Average property prices in 1952 were?1,524 and are now ?162,722.

Back in 1897 when Queen Victoria, the only other reigning monarch to celebrate a Diamond Jubilee, was on the throne the cost of renting a three bedroom flat in a Peabody building such as the Summer Buildings in Southwark St, SE1, was between 5s 3d and 5s 9d a week (26p-28p a week) – today this would cost around ?625 a week. In our June catalogue Lot 8 which is guided at ?270,000+ would, in 1897, have sold for ?200.

Today our offices trade from Mossop St, Chelsea, SW3 and our original HQ in Camberwell Church St, SE5, and are ranked 4th in the Estates Gazette Residential Auction League Tables and though we sell on behalf of clients around the UK our primary focus is in London and the South East which remain among the most popular locations with private investors looking for a safe home for their money.

Our 20 June auction includes:

Lot 8 – 109 Chatham St Walworth SE17: Freehold Three Floor Three Bedroom End of Terrace House offered on behalf of the London Borough of Southwark. Guide price ?270,000+.

Others with potential for development, future investment, producing an established return, or owner occupation include:

Lot 1 – 217 Putney Bridge Road, Putney, SW15: Long Leasehold Ground Floor Self Contained Flat and Basement with Re-Development Potential. Guide Price ?295,000+.

Lot 3 – Garden Flat, 47 Onslow Road, Richmond, Surrey: Long Leasehold Garden Floor Self Contained Flat with Potential to re-configure the internal layout. Guide Price ?375,000+.

Lots 5 & 6 – 153 & 155 Grove Lane, Camberwell, SE5: A Pair of Five Floor Georgian Houses with Planning Permission for the Conversion into Nine Self Contained Flats. Guide Price?795,000+ each.

Lot 20 – 26-28 Grosvenor Road, Aldershot, Hampshire: Freehold Development Opportunity with Planning Permission for the Conversion and Extension to Provide Twelve Self Contained Flats and Two Shops. Guide Price ?375,000+.

Lot 30 – 13 Blackheath Village, Blackheath, SE3: Substantial Freehold Corner Building arranged as Three Commercial Units and Three Self Contained Flats producing ?66,910 per annum. Guide Price ?850,000+.

Vendors at our 20 June auction include: The London Borough of Southwark, Affinity Sutton, BM Samuels Finance Group Plc, Grainger Plc, Mountview Estates Plc, The Treasury Solicitors, LPA Receivers, Mortgagees, Trustees, Public and Private Limited Companies and Others

We hope you find a property that meets your requirements and look forward to seeing you on the day at The Grand Connaught Rooms, WC2. Legal packs may be downloaded online at and should you have any queries please call our team on 0207 808 8530 or 0207 703 4401.

Robin Cripp
Chief Executive & Senior Auctioneer
Andrews & Robertson…where time matters

24 High Street,
Wimbledon Village,
London SW19 5DX

Tel: +44 (0)20 8971 6780
Fax: +44 (0)20 8946 3683