In our recent blog article, Cluttons’ James Hyman highlighted that a return of the pied-à-terre purchaser was beginning to fill the first-time-buyer-shaped hole in demand felt across London since June.
James noted his teams were seeing an increase in buyers who had previously moved their families to the country but were now returning to the office. Add to that a combination of soaring hotel prices and train fares approaching pre-pandemic prices, it seems that the idea of owning, or renting a secondary residence is becoming an increasingly attractive option once again.
What exactly is a pied-à-terre?
Pied-à-terre is a French term for “foot on the ground”. In practice, it’s essentially a small house or apartment in a city that you own or rent in addition to your main home, where you stay when working in or visiting that city for a short time.
Why might you want to live in one?
According to James, clients typically look to purchase a pied-à-terre in London for a couple of reasons. “It mainly appeals to professionals who have relocated outside of London but want a bolthole in easy distance from both their workplace and a station. Many view it as a long-term investment; instead of putting money into a pension fund, this is an asset that can be rented out and more than likely deliver strong capital growth in the future, as well as something their friends and family can benefit from too if they’re studying or working in London.”
The other increasingly common scenario is for those who want to downsize as they look to spend more time at a European holiday home that’s just a short flight away from London.
Most popular amenities
- As they say – location, location, location
- Easy access to public transport
- Concierge or porter
- Pet-friendly
- Two bedrooms or one bedroom with a good size living area for when friends and family stay
One perhaps surprising feature that doesn’t top the non-negotiable list, is outside space. James says “Despite changes to how we live and work, it’s a bit of a misconception that outside space is a major driver for all Central London buyer and renters at the moment. Especially when it comes to those looking to buy or rent a secondary residence, because they’re going to be out and about a lot and more than likely have a garden at their primary home. Such a massive proportion of London doesn’t have any outside space – it’s the “London compromise” and always has been. Location and interior space is always important and anything more than that, such as a balcony or terrace, is just a wonderful luxury”.
London hotspots
Whilst everyone has their private wish list, and it really depends what you’re using it for, arguably the most important aspect or buying or renting a pied-à-terre is its location.
Commenting on popular City spots, James says “Obvious locations are Shad Thames and Wapping, due to their proximity to both the City and Canary Wharf. Buyers will be looking at geographies that are affordable but likely to offer good returns, in areas that are undergoing regeneration and infrastructure improvements.”
“Other popular locations are Kings Cross and Paddington thanks to infrastructure. Professionals can literally hop off their train, drop their bags off and be into work in under 30 minutes.”
Searching for your perfect pied-à-terre in London?
Take a look at a selection of Cluttons properties currently available to buy or rent, now.
Pied-à-terres available to buy
Cinnamon Wharf, London, SE1
Hermitage Waterside, London, E1W
Plympton Road, NW6
The Quadrangle, W2
Blenheim Terrace, NW8
Cleveland Mansions, London, W9
Ashmore Road, W9
Quadrangle Tower, London, W2
The Quadrangle, W2
Coniston Court, London, W2
New Caledonian Wharf, London, SE16
Canaletto Tower, London, EC1V
Lefkonico House 505-507, London, N7
The Triangle, London, EC1V
Essex Road, N1
Arlington Avenue, N1
Park West, W2
Luna House, London, SE16
Stanhope Terrace, W2
Cinnamon Wharf, London, SE1
Hanover Steps, London, W2
Tamarind Court, London, SE1
Axis Court, London, SE16
Vanilla & Sesame Court, London, SE1
Clifton Place, W2
Wheat Wharf Apartments, London, SE1
Vanilla & Sesame Court, London, SE1
Quadrangle Tower, London, W2
St. Anns Villas, W11
Wenlock Street, N1
Elystan Street, SW3
Fennel Apartments, London, SE1
Corio House, London, SE1
Halcyon Wharf, London, E1W
Spa Road, London, SE16
Spa Road, London, SE16
Vogans Mill Wharf, London, SE1
Millennium Square, London, SE1
Vanilla & Sesame Court, London, SE1
Curlew Street, London, SE1
Juniper Drive, SW18
Goswell Road, EC1V
Quadrangle Tower, London, W2
The Water Gardens, W2
Sherwood Court, London, W1H
The Triangle, London, SE1
Edgware Road, W2
Sloane Avenue Mansions, London, SW3
Forset Court, London, W2
Hays Court, London, SE16
Berglen Court, London, E14
The Quadrangle, W2
Devonport, London, W2
Portsea Hall, London, W2
Southacre, London, W2
The Water Gardens, W2
Park Mansions, London, SW1X
Portsea Hall, London, W2
Cinnabar Wharf West, London, E1W
Rossetti Garden Mansions, London, SW3
Butlers Wharf Building, London, SE1
Vogans Mill Wharf, London, SE1
Park West, London, W2
New Concordia Wharf, London, SE1
Chelsea Cloisters, London, SW3
Java House, London, E14
Riverlight Quay, SW11
Chantrey House, Belgravia, London, SW1W
West India Quay, E14
Eluna Apartments, London, E1W
Chelsea Cloisters, London, SW3
Waterside Building, London, E1W
Pied-à-terres available to rent
Brewhouse Lane, Wapping, London, E1W
East Lane, Shad Thames, London, SE16
Bermondsey Wall West, Shad Thames, London, SE16
Wapping High Street, Wapping, London, E1W
Robert Adam Street, Marylebone, London, W1U
Park West Place, London, W2
Hans Road, Chelsea, London, SW3
Seymour Street, Hyde Park, London, W1H
Grange Road, Tower Bridge, London, SE1
92 Snowsfields, Borough, London, SE1
Kipling Street, Bermondsey Street, London, SE1
Grange Road, London Bridge, London, SE1
Fulham Road, Fulham, Fulham, SW6
Upper Berkeley Street, Marylebone, London, W1H
New Quebec Street, Hyde Park, London, W1H
The Boathouse, Shad Thames, London, SE1
Peninsula Court, Isle of Dogs, London, E14
Eagle Wharf Court, Shad Thames, London, SE1
Sloane Street, Chelsea, London, SW1X
Bryanston Square, Marylebone, London, W1H
Butlers And Colonial Wharf, Shad Thames, London, SE1
King’s Road, Chelsea, London, SW3
Wenlock Street, Islington, London, N1
170 Copenhagen Street, Kings Cross, London, N1
Hans Road, Knightsbridge, London, SW3
Queen Elizabeth Street, Shad Thames, London, SE1
St Georges Fields, Hyde Park, London, W2
Lower Sloane Street, Chelsea, London, SW1W
Lower Sloane Street, Chelsea, London, SW1W
Lower Sloane Street, Chelsea, London, SW1W
Sanctuary Court, Wapping, London, E1W
Egerton Gardens, Knightsbridge, London, SW3
Montagu Place, Marylebone, London, W1H
Manchester Street, Marylebone, London, W1U
Montagu Place, Marylebone, Marylebone, W1H
Eagle Wharf Court, Tower Bridge, London, SE1
Island Apartments, Islington, London, N1
Royal Street, Waterloo, London, SE1
Kensington Gardens Square, Bayswater, London, W2
Fulham Road, Chelsea, London, SW3
Fulham Road, South Kensington, London, SW3
48 Sloane Square, South Kensington, London, SW1W
Knightsbridge, London, SW1X
Kensington Gardens Square, Bayswater, London, W2
Edgware Road, Paddington, London, W2
Hill Street, Hyde Park, London, W1J
Grosvenor Hill, Mayfair, London, W1K
Metropolitan Wharf Building, Wapping, London, E1W
Millennium Square, Tower Bridge, London, SE1
Edgware Road, Paddington, London, W2
Wapping Wall, Wapping, London, E1W
Hill Street, Mayfair, London, W1J