Mount Anvil will build a £160m residential tower block near east London’s hi-tech hub Silicon Roundabout.
The London-based developer will work with housing provider Affinity Sutton to develop the 36-storey building, which the firms believe will help to drive up the value of properties on the fringes of central London. Mount Anvil and Affinity Sutton will develop The Silicon Tower, located at 261 City Road, in a joint venture.
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The Silicon Tower will include 307 residential apartments, of which 107 will be affordable homes managed by Affinity Sutton, along with 785sq metres of mixed-use commercial space. Apartments in the property will have direct views over the City Road Basin and will be arranged around a landscaped courtyard, while there are also plans to put a private residents’ spa within the scheme.
Mount Anvil chief executive Killian Hurley 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.”
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“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 1,000 homes in development.”
Work will begin on The Silicon Tower in April, with the aim of completing the project in July 2016. Skidmore, Owings & Merrill Architects has been appointed as architect for the delivery of the scheme. The group was architect of the world’s tallest building, Burj Khalifa in Dubai and will now work on what will become Islington’s highest structure.
Affinity Sutton group director of new business and development Kerry Kyriacou 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 6,000 new homes in development.”