Affinity Sutton and Mount Anvil aim high with “Silicon Tower”
Affinity Sutton and Mount Anvil aim high with “Silicon
Tower”
The values of homes in the City fringes are
set to reach new heights with “Silicon Tower”, a new landmark
development being planned by leading national housing provider
Affinity Sutton and specialist London property developer Mount
Anvil.
261 City Road, London, EC1, purchased by
Affinity Sutton and Mount Anvil in a joint venture, is close to the
Silicon Roundabout cluster of tech businesses. The scheme has a GDV
of £160 million and features a 36-storey building overlooking the
Regent’s Canal – the tallest tower in Islington.
Skidmore, Owings & Merrill Architects, who
designed the world’s tallest building, Burj Khalifa in Dubai, has
been appointed as architects for the delivery of the scheme.
The global award-winning practice created One World Trade
Center in New York and the NATO headquarters in Brussels.
Killian Hurley, Chief Executive of Mount
Anvil, predicts the development will deliver an uplift in prices
for the City fringes. He said: “We aim to capture all the
excitement and buzz surrounding the businesses and people working
and investing in Silicon Roundabout. Our scheme will reflect this
energy and creativity through bold, innovative design. We are
confident that the penthouses will be selling at £1,500 per sq ft,
setting new price levels for high-rise living in the area. This
will be the ultimate city apartment in a dazzling tower.”
“261 City Road is our eighth scheme in
Islington. We have been at the forefront of regeneration in the
borough since 2000 and currently have nearly 1000 homes in
development.”
Kerry Kyriacou, Group Director of New Business
and Development at Affinity Sutton, said: “We are really
excited about providing well designed affordable new housing in
such a vibrant part of the city that will also contribute to
London’s housing needs and are delighted that the project includes
high quality affordable housing. We are delighted to be
working with Mount Anvil and we are an active developer in our own
right with 6000 new homes in development.”
Affinity Sutton and Mount Anvil purchased the
0.92 acre site from Pembroke Real Estate, the asset managers for
Fidelity Investments & Fidelity International. Savills advised
Pembroke on the deal. 261 City Road will comprise 307 residential
apartments, 107 of which will be affordable housing managed by
Affinity Sutton, alongside 785 sq m of mixed-use commercial space.
Arranged around a landscaped courtyard, the apartments will have
direct views over the City Road Basin. There are plans to include a
private residents’ spa with treatment rooms, a yoga room, a
business lounge and private dining and function room within the
luxury scheme.
The development forms part of the City Road
Basin Masterplan, which will regenerate the former industrial land
surrounding Regent’s Canal in the south-eastern part of Islington
with three new developments on City Road, delivering high quality
housing and open spaces. Two new towers will combine to form a
gateway space to the Basin from City Road, creating a highly
visible, positive landmark for Islington which will provide a
catalyst for the wider regeneration of the area. Work on site is
due to start in April 2012 and completion is expected by July
2016.
The site is situated 0.5 miles from Angel and
Old Street underground stations. City Road was recently
identified by Knight Frank as a future London Resi Hotspot,* where
demand now “far exceeded supply.”
*Knight Frank – London Hotspots, Autumn
2011