It is understood that James Frost from Redington Capital is in the process of purchasing the station for a sum below £10 million.
His current strategy is to dispose of the Police House with an enlarged garden to a residential purchaser and to sell off the stables area for use as offices or residential.
The main building is currently envisaged as a high-end restaurant on the ground floor and offices above.
Hampstead Police Station is a listed building. For more information visit English Heritage.