Andrews & Robertson

Andrews & Robertson prove themselves to be masters of the gavel

Next Auction - Tuesday 19th September 2017
Start Time - 12:00
 

Andrews & Robertson prove themselves to be masters of the gavel

Written By Michael Atwood | 10 November 2014

West London homes come out on top as

Andrews & Robertson continue to prove themselves

to be masters of the gavel 

 

A diverse portfolio of residential and commercial property which included a ground floor flat close to the vibrant Portobello Road, a handsome period home (let to an assured tenant) in West Hampstead and a former Funeral Stonemason, helped ensure an 80% success rate for UK auctioneers Andrews & Robertson at their November 3rd sale held at The Hotel Russell, London, WC1.

 

Some 47 out of 59 lots sold, raising £11.8m, with an average price of £250,803. This brings the total number of lots sold for the year to date to 454 with £81m revenue raised. As ever properties with development potential with or without planning permission and smaller refurbishment projects were popular.

 

Speaking after the auction, Andrews & Robertson Chairman and Head of Auctions, Robin Cripp said: “It was a very busy sale room with a lot of competitive bidding from established investors and developers as well as a lot of people who were new to our auction room. There is still a very strong demand for all types of property but obviously the most popular are residential and commercial buildings in the South East of England and where there is potential to add value”.

 

The largest lot of the day in West Hampstead, NW6, was a four bedroom terraced house located in a highly sought after residential area just a few minutes’ walk to West Hampstead underground station and was let to an assured tenant. It sold for £1.32m on the day against a guide price of £950,000 +.

 

Significant sellers at the sale included Croydon Council, London Borough of Enfield, London Borough of Lambeth, Mountview Estates Plc, the Treasury Solicitor and a number of housing associations.

 

Highlights of the sale:  

 

 

 

 

 

80 Norroy Road, Putney, SW15:

Substantial three floor four bedroom terrace house which has been in the same family ownership for 67 years and is offered with full vacant possession.

Guide £800,000+ sold for £945,000

 

  

 28 Homecroft Road Sydenham, SE26:

Large five bedroom terraced house in need of refurbishment which has been in the same family ownership for over 55 years. Guide £475,000+

sold for £590,000

 

 

 

     

 

 

Lavender Gardens, Enfield, EN2:

Single storey former funeral stonemasons sold on behalf of the London Borough of Enfield and with potential for re-development. Guide 140,000+

sold for £220,000

 

St. Lawrence Terrace Ladbroke Grove, W10:

Sold on behalf of a Housing Association this one bedroom ground floor flat is located in a highly desirable location just a stone’s throw from vibrant Portobello Road. Guide £450,000+ sold for £490,000

 

 

Key Statistics

 

 

 

Property Type

Average Lot Size

 

Assured Shorthold

£270,000

 

Ground Rents (80 years +)

£22,000

 

Ground Rents

£26,712

 

Sites with Planning Permission

£68,750

 

 

 

 

Property Location

Average Lot Size               

 

Within M25

£270,569

 

UK

£250,803

 

UK excluding M25

£186,114

 

 

Andrews & Robertson’s next auction will be held on Monday 15th December 2014 at The Hotel Russell, London WC1B and entries are now invited.

 

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