TCS Acquires Prime Retail Asset on Marylebone High Street, London W1
Town Centre Securities PLC (TCS) is pleased to announce the off-market acquisition of 68–69 Marylebone High Street, London W1, a high-quality, retail property located in one of the capital’s most desirable and resilient retail and residential districts.
Strengthening TCS’s Portfolio with a High-Quality Marylebone Asset
The property comprises two ground and basement retail units, let to high-end women’s fashion retailer Ganni and New York–based heritage eyewear brand Moscot. The upper parts consist of three two-bedroom residential apartments, which are currently held on long leaseholds.
The location benefits from the Howard de Walden Estate’s careful stewardship of Marylebone Village, which has created a vibrant retail environment which continues to attract sustained demand from both premium and independent occupiers.
Marylebone Village retail now operates at close to 100% occupancy, with retail income up approximately 7.9% year-on-year. The Village, has welcomed eight new retail openings in the past year, reinforcing Marylebone’s reputation as one of London’s most dynamic and carefully curated shopping destinations.
The acquisition offers clear value-add potential, with opportunities to capture higher rental levels in the immediate future and to further enhance income performance through proactive asset management.
Ben Simpson at Green & Partners acted for TCS on the acquisition.
Jacob Ziff, Associate Investment Director at TCS, commented:
“This acquisition demonstrates our continued confidence in London’s prime retail neighbourhoods and our ability to identify assets with strong fundamentals and opportunities for value creation.
Marylebone High Street, is one of the city’s best-performing retail destinations, with occupancy close to full and strong rental growth. We are excited to play a part in its ongoing success and to unlock the property’s potential for enhanced rental performance in the near term.”
Marylebone High Street
Marylebone High Street is a high-quality, mixed-use asset located in one of London’s most sought-after retail and residential districts.