Hampstead retail site snapped up for £7m by property firm

Image of Town Centre Securities PLC (TCS) purchase in Heath Street, Hampstead

Image of Town Centre Securities PLC (TCS) purchase in Heath Street, Hampstead - Credit: TCS

A property investment company has snapped up a major retail site in Hampstead Village.

Town Centre Securities PLC (TCS) has acquired 58-62 Heath Street for £7 million.

The 12,600 sq ft mixed-use property adjacent to Hampstead tube station, currently has multi-level units let to Wagamama, Knight Frank and Cass Arts - an arts and craft retailer.

TCS is in talks with a potential occupier for the fourth unit, which is vacant.

A 34-space basement level car park, office space on the first to third floors and eleven residential flats form part of the scheme that was originally designed by architect Ted Levy.

Edward Ziff, TCS chairman and chief exec, said: “This strategic acquisition in Hampstead further enhances our portfolio with a mixed-use property in one of the capital’s most revered suburbs.

"The asset management opportunities and valuable parking spaces makes this is a solid investment for TCS and aligns with our core strategy of acquisitions where long-term value can be added.”

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Ben Simpson, partner at CWM Investment, who acted on behalf of TCS, said the firm was "delighted" with the purchase.