Who are today’s super prime London renters?

High-tech, low-profile tenants

Gravitating towards ultra-modern apartments, newly refurbished townhouses, and penthouses with rents in excess of £5,000 a week (and more in chic neighbourhoods such as Chelsea, Mayfair and Marylebone), these younger-than-ever residents are typically enjoying the fruits of their labour as extremely successful tech and gaming entrepreneurs as well as those working in financial services. 

Kitted out in trainers and often riding an e-bike, they fly completely under the radar on the streets of the capital as they navigate their way around town for meetings and a vibrant social scene.

In search of global connectivity

Across all age brackets, 22% of our super prime tenants in the first half of this year work in tech. And just under 75% of tenants identify as business founders. The latter often opt to base themselves in London for its global connectivity and favourable time zone where the working day overlaps with markets across the world. 

As in the past, many are from the United States – around 40% at the halfway point of this year. One key shift I have noticed has been where in the States they hail from. When I began in the industry more than 15 years ago, I was mainly working with finance, investment and tech leaders from the East and West Coast but now we are seeing tenants coming out of cities and states such as Miami, Texas, Austin, Dallas, Chicago, Pennsylvania and across the US; titans from a wider range of industries.

Opening up a London lifestyle

Whereas once travel might have involved a private chauffeur, today it’s just as likely to be an Uber or an e-bike. The capital has opened up and super prime tenants are considering areas they simply hadn’t before. Marylebone, in particular, has seen a spike in demand in recent years with its proximity to Mayfair’s hotspots – all whilst being so close to the open spaces of Regents Park and its own vibrant high street. 

And while the day job may be high-tech, these individuals personal lives verge on low-key. As an agent I’m still asked all the traditional questions about an area – top schools, cultural attractions and the like – but I’m also quizzed on the nearest supermarket, where to grab the best local coffee and whether they can walk their kids to the school gates. From my experience, these tenants live exceptionally normal, low-key and family-orientated lives.

To further reiterate this, we have noticed that those looking to rent London’s cutting-edge and finest addresses now generally employ fewer household staff than before. We often find that having chosen their fabulous home, they tend to be far more involved in the day-to-day running of it.

Further information

Contact Isabella Birch Reynardson