Town Centre Securities secures Asian-inspired healthy food brand and fully let scheme in Hampstead

18 May 2022

Asian inspired, healthy fast growing food brand, itsu has opened its latest restaurant at 58-62 Heath Street in Hampstead.

Leeds-based property investment, development and car parking operator, Town Centre Securities PLC (TCS) acquired the asset in January this year for £7 million and this latest deal secures a fully let scheme. The new restaurant opening creates 24 jobs for the local community.

The 12,600 sq ft mixed-used property is located in a prime retail site adjacent to Hampstead tube station, comprising four multi-level units which are let to Wagamama, Knight Frank and London based arts and craft retailer Cass Arts. itsu agreed a deal on the prominent corner retail unit totalling 2,310 sq ft.

itsu serves freshly-made, nutritious and affordable Japanese food and operates more than 70 restaurants UK-wide, with recent openings including Guilford, Edinburgh and Woking. itsu’s healthy eat beautiful menu, created by specially trained Hot, Rice & Fish professionals, offers 31 dishes in the 60-cover restaurant – sushi, salads, dumplings, bao, hot noodles and rice bowls – with diners able to eat in, take out or enjoy door delivery.

TCS acquired the asset as part of its portfolio diversification strategy and to generate long term capital growth.

Dereck De Albuquerque, Head of Estates at itsu commented: “This is a fantastic new neighbourhood spot for itsu just seconds from the station. We’ve taken a larger than average square footage for restaurants in Hampstead in order to offer spacious dine-in options on the high street. We’re looking forward to offering quick, healthy and affordable meal options to the residents of NW3.”

Rob Thompson, Asset Manager, TCS added: “We are delighted to secure fast growing food brand itsu for our Heath Street asset just months after acquiring the development in Hampstead, one of London’s leading village locations, which is surrounded by a rich mix of retail, food destinations and services. itsu is an industry leading hospitality employer and will bring a fantastic, healthy food offer to the local area.”