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
Kilburn Lane, W10
Sherwood Court, London, W1H
Clifton Place, W2
Sloane Avenue Mansions, London, SW3
Porchester Place, W2
Essex Road, N1
Chimney Court, London, E1W
Wharf Road, N1
Wenlock Street, N1
The Water Gardens, W2
Elystan Street, SW3
Juniper Drive, SW18
Halcyon Wharf, London, E1W
Spa Road, London, SE16
Edgware Road, W2
Forset Court, London, W2
Cleveland Mansions, London, W9
St. Anns Villas, W11
Stanhope Terrace, W2
Coniston Court, London, W2
Queens Head Street, London, N1
Plympton Road, NW6
The Circle, London, SE1
Tamarind Court, London, SE1
Hanover Steps, London, W2
Canaletto Tower, London, EC1V
Lefkonico House 505-507, London, N7
Arlington Avenue, N1
Graham Street, N1
The Quadrangle, W2
Porter Street, London, SE1
Curlew Street, London, SE1
Hays Court, London, SE16
The Quadrangle, W2
Blenheim Terrace, NW8
Berglen Court, London, E14
Hermitage Waterside, London, E1W
Corio House, London, SE1
Admirals Court, London, SE1
Vogans Mill Wharf, London, SE1
New Caledonian Wharf, London, SE16
Quadrangle Tower, London, W2
The Quadrangle, W2
Quadrangle Tower, London, W2
Devonport, London, W2
Portsea Hall, London, W2
Southacre, London, W2
The Water Gardens, W2
Park Mansions, London, SW1X
Portsea Hall, London, W2
Quadrangle Tower, London, W2
Millennium Square, London, SE1
Wheat Wharf Apartments, London, SE1
Vanilla & Sesame Court, London, SE1
Cinnabar Wharf West, London, E1W
Vogans Mill Wharf, London, SE1
Rossetti Garden Mansions, London, SW3
Cinnamon Wharf, London, SE1
The Triangle, London, SE1
Ashmore Road, W9
Butlers Wharf Building, London, SE1
Rotherhithe Street, London, SE16
Vogans Mill Wharf, London, SE1
Park West, London, W2
Goswell Road, EC1V
New Concordia Wharf, London, SE1
Vanilla & Sesame Court, London, SE1
Chelsea Cloisters, London, SW3
Java House, London, E14
Riverlight Quay, SW11
Maida Vale, W9
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
Shad Thames, London, SE16
Upper Berkeley Street, Marylebone, London, W1H
Holloway Road, Islington, London, N7
Sanctuary Court, Wapping, London, E1W
Kipling Street, Bermondsey Street, London, SE1
Egerton Gardens, Knightsbridge, London, SW3
Montagu Place, Marylebone, London, W1H
Kings Road, Chelsea, London, SW3
Seymour Street, Hyde Park, London, W1H
Shepherds Bush Road, Brook Green, London, W6
Manchester Street, Marylebone, London, W1U
Upper Berkeley Street, Marylebone, London, W1H
Sloane Street, Chelsea, London, SW1X
Montagu Place, Marylebone, Marylebone, W1H
Butlers Wharf Building, Shad Thames, London, SE1
Eagle Wharf Court, Tower Bridge, London, SE1
Island Apartments, Islington, London, N1
Red Square, Islington, London, N16
Fulham Road, Fulham, Fulham, SW6
Montagu Street, Marylebone, London, W1H
Royal Street, Waterloo, London, SE1
Gloucester Place, Marylebone, London, W1U
Lonsdale Place, Islington, London, N1
Mackenzie Road, Islington, London, N7
Kensington Gardens Square, Bayswater, London, W2
Sloane Avenue, Chelsea, London, SW3
Clephane Road, Islington, London, N1
King’s Road, Chelsea, London, SW3
Fulham Road, Chelsea, London, SW3
Fulham Road, South Kensington, London, SW3
48 Sloane Square, South Kensington, London, SW1W
Gloucester Place, Marylebone, London, W1U
Knightsbridge, London, SW1X
Duke Of York Square, Chelsea, London, SW3
Kensington Gardens Square, Bayswater, London, W2
Edgware Road, Paddington, London, W2
Hill Street, Hyde Park, London, W1J
Grosvenor Hill, Mayfair, London, W1K
Raven Wharf Apartments, Shad Thames, London, SE1
Metropolitan Wharf Building, Wapping, London, E1W
Millennium Square, Tower Bridge, London, SE1
Edgware Road, Paddington, London, W2
Goswell Road, Clerkenwell, London, EC1V
Kensington Gardens Square, Bayswater, Bayswater, W2
Wapping Wall, Wapping, London, E1W
Hill Street, Mayfair, London, W1J