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
Merchant Court, London, E1W
The Circle, London, SE1
Tamarind Court, London, SE1
Eagle Wharf Court, London, SE1
Axis Court, London, SE16
Lower Sloane Street, London, SW1W
Globe Wharf, London, SE16
Vanilla & Sesame Court, London, SE1
River View Heights, London, SE16
Eagle Wharf Court, London, SE1
Gun Wharf, London, E1W
Tower Bridge Wharf, London, E1W
Monck House, London, SE1
Seymour Street, London, W1H
Park Street, London, SE1
Betterton Street, London, WC2H
Praed Street, London, W2
Eagle Wharf Court, London, SE1
Westbourne Terrace, London, W2
Boss House, London, SE1
Cardamom Building, London, SE1
Walker House, London, SE1
Cole Street, London, SE1
Cole Street, London, SE1
New Caledonian Wharf, London, SE16
Hyde Park Gardens, London, W2
Vanilla & Sesame Court, London, SE1
Daventry Street, London, NW1
Lancaster Gate, London, W2
Porchester Square, London, W2
Granary House, London, SE16
Clifton Place, London, W2
Paultons House, London, SW3
Craven Hill Gardens, London, W2
Chelsea Cloisters, London, SW3
Hyde Park Gardens, London, W2
Ovington Square, London, SW3
North Rise, London, W2
New Tannery Way, London, SE1
Calico House, London, SE1
Hermitage Court, London, E1W
Free Trade Wharf, London, E1W
Free Trade Wharf, London, E1W
Rampart Street, London, E1
Vogans Mill Wharf, London, SE1
Falconet Court, London, E1W
Beaufort Street, London, SW3
Cheyne Place, London, SW3
Capital Wharf, London, E1W
Park Steps, London, W2
Vanilla & Sesame Court, London, SE1
Ginger Apartments, London, SE1
Linden Gardens, London, W2
Tea Trade Wharf, London, SE1
Butlers & Colonial Wharf, London, SE1
Pierpoint Building, London, E14
Lower Sloane Street, London, SW1W
Millennium Square, London, SE1
Chronicle Tower, London, EC1V
Lion Court, London, SE1
Edgware Road, London, W2
Southwick Street, London, W2
Hyde Park Crescent, London, W2
Clifton Place, London, W2
Quadrangle Tower, London, W2
Thames Heights, London, SE1
Jacana Court, London, E1W
Westgate Terrace, London, SW10
Harrington Gardens, London, SW7
3 Ovington Square, London, SW3
De Vere Mews, London, W8
Hyde Park Gardens, London, W2
Upper Berkeley Street, London, W1H
Southwark Bridge Road, London, SE1
Anchor Brewhouse, London, SE1
Red Lion Court, London, E1W
New Crane Wharf, London, E1W
Compass House, London, E1W
Devonport, London, W2
Butlers Wharf Building, London, SE1
Sanderling Lodge, London, E1W
New Concordia Wharf, London, SE1
Wenlock Road, London, N1
Harrowby Street, London, W1H
Lion Court, London, SE1
Southgate Road, London, N1
Dalston Square, London, E8
Pier Head, London, E1W
Hyde Park Gardens, London, W2
Wyndham Street, London, W1H
Harrowby Street, London, W1H
Cinnamon Wharf, London, SE1
Monmouth Road, London, W2
Blandford Street, London, W1U
Edgware Road, London, W2
Caraway Apartments, London, SE1
Spice Quay Heights, London, SE1
Southwell House 34-36 Egerton Gardens, London, SW3
The Quadrangle, London, W2
Book House, London, EC1V
Porchester Place, London, W2
Harrow Road, London, W9
Quadrangle Tower, London, W2
Edgware Road, London, W2
Mansfield Street, London, W1G
Graham Street, London, N1
Caledonian Road, London, N1
China Wharf, London, SE1
Knot House, London, SE1
Codling Close, London, E1W
Forset Court, London, W2
Pied-à-terres available to rent
Shirland Road, Maida Vale, London, W9
Millennium Square, Shad Thames, London, SE1
De Beauvoir House, Islington, London, N1
Witherington Road, Highbury, London, N5
Seymour Place, Marylebone, London, W1H
Queen Elizabeth Street, Shad Thames, London, SE1
Cranley Gardens, South Kensington, London, SW7
New Quebec Street, Marylebone, London, W1H
Hermitage Waterside, Wapping, London, E1W
Cannon Street Road, Whitechapel, London, E1
Earls Way, London Bridge, London, SE1
4 Deacon Street, London, SE17
Seymour Street, Marylebone, London, W1H
Dibden Street, Islington, London, N1
145 Fulham Road, South Kensington, London, SW3
145 Fulham Road, South Kensington, London, SW3
Fulham Road, Chelsea, London, SW3
St. Georges Fields, Hyde Park, London, W2
Queens House, Clerkenwell, London, WC1N
Southbank Place, Waterloo, London, SE1
Euston Road, Kings Cross, London, NW1
Edgeware Road, Hyde Park, London, W2
Pierpoint Building, Canary Wharf, London, E14
Kensington Gardens Square, Bayswater, London, W2
Elm Tree Court, Elm Tree Road, St Johns Wood, London, NW8
New Quebec Street, Marylebone, London, W1H
Tanner Street, Bermondsey Street, Southwark, SE1
Reardon Path, London, E1W
Sanderling Lodge, Wapping, London, E1W
Shepherds Bush Road, Brook Green, Shepherds Bush, W6
Gloucester Terrace, Hyde Park, London, W2
Manchester Street, Hyde Park, London, W1U
Shepherds Bush Road, Brook Green, London, W6
Shepherds Bush Road, Brook Green, London, W6
Dean Ryle Street, Belgravia, London, SW1P
Walkinshaw Court, Islington, London, N1
Holloway Road, Islington, London, N7
Shepherds Bush Road, Brook Green, London, W6
Muncaster Road, Clapham, London, SW11
Queen Square, Islington, London, WC1N
11-13 Young Street, Kensington, London, W8
Hill Street, Mayfair, Mayfair, W1J
4 Eccleston Street, Belgravia, London, SW1W
Rainville Road, London, W6
161 Fulham Road, South Kensington, London, SW3
Kendal Street, Hyde Park, London, W2
Edgware Road, Hyde Park, London, W2
Hill Street, Mayfair, London, W1J
Rainville Road, Fulham, London, W6
Fulham Road, Chelsea, London, SW3
Stanhope Gardens, London, SW7