The property investment, development and car parking operator, Town Centre Securities (TCS) has announced the acquisition of property in Heath Street, Hampstead for £7m.

The 12,600 sq ft mixed-use property comprises four multi-level units let to Wagamama, Knight Frank and Cass Arts, a London based arts and craft retailer.

TCS is already in advanced discussions with a potential occupier for the final vacant unit. The scheme, which was originally designed by influential architect, Ted Levy, includes a 34-space basement level car park and eleven residential dwellings.

TCS said: "The strategic purchase forms part of TCS’s ongoing strategy to continue to diversify their portfolio and generate long term capital growth. CWM Investment acted on behalf of TCS."

The property investment, development and car parking operator, Town Centre Securities (TCS) has announced the acquisition of property in Heath Street, Hampstead for £7m.

Edward Ziff, Chairman and Chief Executive of TCS, 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.”

The retail recovery is under way, says Edward Ziff of Town Centre Securities

Ben Simpson, Partner at CWM Investment commented: “We are delighted to purchase this off market, mixed use property investment next to Hampstead Underground station on behalf of TCS. The acquisition offers significant value-added potential to improve the tenant mix and drive rental growth in the short to medium term.”

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James Mitchinson

Town Centre Securities acquires mixed-use property in Hampstead for £7m