Pied-à-terre preferences

Hybrid working prompted a shift in tenant profiles and in the last few years we have welcomed in those who may have relocated to the countryside but still need a London base. Crucially, their requirements are not just about being close to the office but also having the opportunity to enjoy their surroundings during the evenings or extended weekend stays. 

Places such as Marylebone rate highly among tenants seeking to be within walking distance of leading restaurants, the West End and Regent’s Park – and developments with amenities such as a gym and spa add to the appeal. In the past, a pied-à-terre rental tended to be entirely rooted in practicality, providing a place to rest one’s head during the working week and offering a door-to-desk commute in a matter of minutes. Now it’s very much seen as a home from home and people are keen to make the most of their local environment.

Working on the go

For those whose working day involves multiple markets across the globe, living in London is popular thanks to its favourable time zone. A significant proportion of tenants in the super prime bracket identify themselves as business owners, and digital working means an office commute may not factor into their criteria. 

Instead, their priorities may swing towards London’s lifestyle offering, and finding somewhere to live close to one of the capital’s private members’ clubs can sometimes be a key focus. With a host of these global clubs located in central London and the City, an apartment in Mayfair or Shoreditch might be high on the search list, enabling these tenants to work from and socialise at their club with ease.

Lock up and leave 

Some tenants may have a rental base in London as well as several other locations around the world and will often prioritise being in the heart of the action to maximise their leisure time in the capital. An important factor for them is having a lock up and leave property so generally secure new build developments or those with a concierge will be high on the list. People may not be here all the way through the year but still want to retain a close connection to London and therefore want somewhere that allows them to simply drop their suitcase and head out.

A considered choice

For others, renting provides a sense of flexibility and freedom. Being able to try a new neighbourhood can be hugely appealing and after each tenancy comes to an end, some tenants will relish the opportunity to pack up and head to a new corner of the capital where they can sample its local lifestyle.

Meanwhile for some it may be less about exploration of the capital but instead experiencing a new property type; perhaps swapping a mews for a penthouse or an apartment in a mansion block for a period cottage in a London village. For this group of tenants, the accessibility of the capital is a major factor in their decision to swap postcodes – whether riding e-bikes, taking buses and tubes or Ubering out for the evening – London is their oyster.

Further information

Contact Marielle Papadopoullos or Isabella Birch Reynardson