Regional estate agent and property group Andrews has made its largest dividend payment to shareholders in 14 years – giving its pioneering charitable trusts a £1m boost.
When founder Cecil Jackson Cole set up the Keynsham-headquartered business in 1946 he structured it to share a minimum of 35% of its profits each year with two charitable trusts that, ultimately, own it. 
Since 1985, the business – best known for its chain of nearly 60 Andrews Estate Agent branches across the South of England – has paid out over £10m to the Andrews Charitable Trust (ACT) and Speaking Volumes, which publishes Christian books.
Some 85% of the trusts’ dividend payment will be go to the ACT, which focuses its work on supporting ventures that tackle the link between poverty and housing.
A major focus for ACT is an innovative housing scheme called [establish]. Launched as part of Andrews’ 70th anniversary celebrations in 2016, it aims to buy 50 homes in areas where Andrews has a presence over the coming 50 years as a means of supporting young people leaving the care system.
Two [establish] houses have already been launched. The first was in Lawrence Hill, Bristol and the second in Croydon, South London. It is anticipated that a further two homes will be announced before the end of this year.
Group chief executive David Westgate, pictured, said Andrews’ approach was not only unique in the property sector and reflected the philanthropic work of its founder, but in an age when estate agents are among the least trusted professionals and the property market comes under continued scrutiny, Andrews’ investment in good causes allowed it to stand out as a business doing things differently. 
“From day one, Andrews has ensured that the communities that we’re part of benefit from what we do,” he said. “But we need to remain visionary and ensure that our work continues to be relevant and make a difference.
“The dividend announcement shows the commitment and hard work of the entire Andrews’ family to ensuring that the foundations on which we were built remain relevant and life-changing. I’m, therefore, delighted that we’ve been able to increase our payment this year so significantly.”
ACT executive director Sian Edwards added: “We’re a charity with a mission to alleviate poverty and homelessness and with most of our funding coming from Andrews Property Group, it makes sense that we tackle this from a housing perspective.
“Access to safe, decent housing can be the foundation stone for so many other benefits and life improvements, and the work that is already being achieved through [establish] bares testament to this. The funds received from Andrews will make an enormous impact on moving this programme forward.”
Cecil Jackson Cole also founded Oxfam and Help the Aged.
