Hi Colin
I have a TSR2 and can confirm that the rear spacing is only 120mm and the rear triangle is only drilled for a midguard mounting not a caliper brake. So without surgery, your choices for updating the gearing are limited to (I think) 3 speed hubs and Sachs/SRAM 5 speed hub with coaster or drum brake.
For any other rear hub, you’d either have to have the rear spacing widened and have brake mounts added, or buy a complete TSR27 or TSR30 rear triangle for £250.
Also as Anwar mentioned and as I’m sure you already know, there are no cable guides on the TSR2 so if you had a different hub and added a non-coaster brake, you’d have to come up with a solution for that too.
IMO if your riding needs exceed the TSR2’s limitations, you’d be better of selling it and getting a TSR8 or whatever else better suits your requirements.
Gavin