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
Caraway Apartments, London, SE1
Free Trade Wharf, London, E1W
Walker House, London, SE1
Upper Berkeley Street, London, W1H
Walker House, London, SE1
St Hildas Wharf, London, E1W
Burr Close, London, E1W
Halcyon Wharf, London, E1W
Caraway Apartments, London, SE1
Ginger Apartments, London, SE1
Bracken House, London, E3
Lancaster Gate, London, W2
Porchester Square, London, W2
Leeward Court, London, E1W
Harrow Road, London, W9
Merganser Court, London, E1W
Vanilla & Sesame Court, London, SE1
Monck House, London, SE1
River View Heights, London, SE16
Brick Lane, London, E1
Forset Court, London, W2
China Wharf, London, SE1
The Quadrangle, London, W2
Rampart Street, London, E1
The Circle, London, SE1
Providence Square, London, SE1
Vanilla & Sesame Court, London, SE1
Cinnamon Wharf, London, SE1
River View Heights, London, SE16
Butlers & Colonial Wharf, London, SE1
Gloucester Terrace, London, W2
Stourcliffe Street, London, W1H
Hyde Park Gardens, London, W2
Seymour Street, London, W1H
Butlers Wharf Building, London, SE1
Fennel Apartments, London, SE1
Cinnamon Wharf, London, SE1
Lower Sloane Street, London, SW1W
Vogans Mill Wharf, London, SE1
Halcyon Wharf, London, E1W
Cole Street, London, SE1
Conquest Tower, London, SE1
Daventry Street, London, NW1
Butlers & Colonial Wharf, London, SE1
Spice Quay Heights, London, SE1
Betterton Street, London, WC2H
Thames Heights, London, SE1
Park Street, London, SE1
Tamarind Court, London, SE1
Mission Point, London, SE16
Stourcliffe Street, London, W1H
Wyndham Street, London, W1H
North Rise, London, W2
Jubilee Place, London, SW3
Harrowby Street, London, W1H
Blandford Street, London, W1U
Westbourne Terrace, London, W2
Hyde Park Gardens, London, W2
Butlers & Colonial Wharf, London, SE1
Eagle Wharf Court, London, SE1
Calico House, London, SE1
3 Ovington Square, London, SW3
Capital Wharf, London, E1W
Cinnamon Wharf, London, SE1
Quadrangle Tower, London, W2
Harrowby Street, London, W1H
Paultons House, London, SW3
Craven Hill Gardens, London, W2
Wimpole Street, London, W1G
Millennium Square, London, SE1
Caraway Apartments, London, SE1
Cinnabar Wharf Central, London, E1W
Linden Gardens, London, W2
Edgware Road, London, W2
New Caledonian Wharf, London, SE16
Cinnamon Wharf, London, SE1
New Tannery Way, London, SE1
Fleming House, London, SE16
Ovington Square, London, SW3
Harrington Gardens, London, SW7
Cheyne Place, London, SW3
De Vere Mews, London, W8
Monmouth Road, London, W2
Merchant Court, London, E1W
Strathearn Place, London, W2
Tower Bridge Wharf, London, E1W
Hermitage Court, London, E1W
Edgware Road, London, W2
Southwick Street, London, W2
Merchant Court, London, E1W
Lion Court, London, SE1
Edgware Road, London, W2
Devonport, London, W2
Dalston Square, London, E8
Axis Court, London, SE16
Hyde Park Gardens, London, W2
Clifton Place, London, W2
Lower Sloane Street, London, SW1W
Chronicle Tower, London, EC1V
Westgate Terrace, London, SW10
Compass House, London, E1W
Wenlock Road, London, N1
Southgate Road, London, N1
Hyde Park Gardens, London, W2
Southwell House 34-36 Egerton Gardens, London, SW3
Book House, London, EC1V
Porchester Place, London, W2
Mansfield Street, London, W1G
Graham Street, London, N1
Caledonian Road, London, N1
Pied-à-terres available to rent
Peninsula Court, Islington, London, N1
Kensington Gardens Square, Bayswater, London, W2
Commercial Road, Wapping, London, E14
Shepherds Bush Road, Brook Green, London, W6
Shepherds Bush Road, Brook Green, London, W6
Seymour Place, Marylebone, London, W1H
Tarling Street, Whitechapel, London, E1
Chiltern Street, Marylebone, London, W1U
Bryanston Square, Hyde Park, London, W1H
Gloucester Place Mews, Marylebone, London, W1U
Meridian Court, Shad Thames, London, SE16
Jacana Court, Wapping, London, E1W
Seymour Place, Marylebone, London, W1H
Coriander Court, Shad Thames, London, SE1
Mildmay Avenue, London, N1
Hill Street, Mayfair, London, W1J
Royal Street, Waterloo, London, SE1
Hans Road, Knightsbridge, London, SW3
The Circle, Shad Thames, London, SE1
Wapping Lane, Wapping, London, E1W
Shad Thames, London, SE1
Tufnell Park Road, Islington, London, N7
Rose Court, Islington, London, N1
Parr Street, London, N1
Edgar Road, Bow, London, E3
Prospect Place, Wapping, London, E1W
Graham Street, Islington, London, N1
Caraway Apartments, Shad Thames, London, SE1
Caledonian Road, Kings Cross, London, N1
Odessa Street, Rotherhithe, London, SE16
1 Collingham Road, Earls Court, London, SW5
1 Collingham Road, Earls Court, London, SW5
31 Draycott Avenue, Chelsea, London, SW3
31 Draycott Avenue, Chelsea, London, SW3
31 Draycott Avenue, Chelsea, London, SW3
Draycott Avenue, Chelsea, London, SW3
Shirland Road, Maida Vale, London, W9
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