AUCTIONnews


MERGERS Andrews & Robertson merge with Quinton Scott


Andrews & Robertson and South West London Chartered Surveyors & Estate Agents Quinton Scott have merged.


A & R was acquired in 2008 by


Robin Cripp, formerly Chairman of Barnard Marcus auctions. As an independent auction house it raised more than £120m in residential and secondary commercial property sales in the last year. Robin Cripp said he had been looking to expand its offering and spread of disciplines for over a year. “We felt this was an appropriate development for us. The market is challenging and we preferred to be proactive rather than wait for things to improve.” The merger for an undisclosed sum brings the number of staff to 35. For the first six months the companies will continue to trade


‘We are no longer a stand-alone auction firm.’


under their trade names while a new corporate identity is created said Cripp, “We wanted to raise our game and our offering as agents, chartered surveyors and auctioneers means we can compete in the wider market more fully. Volumes have virtually halved from their peak in 2007 and there has been a notable swing to residential investment in the last year. Quinton Scott has a very strong market knowledge which complements ours and South West London has real potential for increasing business.”


Quinton Scott has a respected commercial agency dealing with all types of commercial property either by selling or letting. Andrews and Robertson, one of the UK’s leading independent auction houses for more than 150 years was ranked among the top five UK residential auction firms by the National Auctioneers League Tables in 2012. The new group will be offer a flexible service to cover the whole


ABOVE: Quinton Scott offices in London. LEFT: Maida Vale, London, W9: a two bedroom flat in a renowned catchment area, inspected by 40 prospective bidders. Sale price: £455,000, Guide: £385,000.


spectrum of transacting residential or commercial property via private treaty or auction.


Cripp added, “It is a very exciting development and one which ends our status as a stand- alone auction firm. It is a cross pollination of skills and Quinton Scott have a strong commercial base in South West London going back 35 years and together we plan to expand that to other parts of London.”


The new group will have offices in Chelsea, Camberwell, Wimbledon Village and Wimbledon Town Centre focusing on property for sale by Private Treaty in Central, South East and South West London. At the A&R June sale, well priced


AUCTION FUNDING Venmore pools resources


Liverpool auctioneer, Venmore is the latest auction house to team up with lender Auction


Finance Limited to extend its operations to offer fast funding to purchasers in the area. Venmore Property Auctions


is Liverpool’s and Merseyside’s oldest property auction houses. It offers a large number of varied properties per auction, including


residential, commercial, investment and repossession properties. The agreement with national lender Auction Finance Limited means investors can get funds transferred within 24 hours following completion of an auction so they can meet the tight deadlines under auction rules. Maria Barrigan at Venmore Property Auctions, said,


“We were impressed with what Auction Finance Limited could offer our auction buyers and having the team at our auctions will be a great benefit to our customers. The agreement gives us a competitive edge in the current financial climate, enabling investors to agree lending decisions quickly on the property they want on the day. We see 2012 as offering fantastic opportunities for all


our property investors.” Scott Hendry, National


Development Manager of Auction Finance Limited, said, “We’re pleased to be working with the team at Venmore and to offer investors in Liverpool and Merseyside with the finance they need. Having funds in place enables property professionals to reap the rewards of a good investment opportunity more quickly.” www.venmores.co.uk


PROPERTYdrum AUGUST 2012 59


vacant industrial stock, tenanted retail units and residential properties in greater London and the Home Counties ticked buyer’s boxes and revenues peaked at £7.8m, bringing


61 residential and secondary commercial lots to the market with 41 sold, achieving a 68 per cent success rate.


Cripp 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.”


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