Orion City Road Trustee Ltd, the vehicle set up by Orion Capital Managers for the redevelopment of 257 City Road, has secured a Resolution to Grant Planning Permission from Islington Council for a 30-story residential tower designed by international architecture practice UNStudio. The decision, announced last Wednesday night, ensures redevelopment of this significant City Road Basin site will begin this year.
The project will comprise a 30-story tower with one and two-bedroom apartments and a selection of luxurious penthouses.
Initial consent for a tower on the site was achieved by Groveworld, a member of the previous owner group, 259 City Road Basin Ltd, in December 2006. The design has since been revised and submitted for the current consent. Groveworld is now working with Orion as development manager on the project.
The project will become a new landmark development comprising a 30-story tower with one and two-bedroom apartments and a selection of luxurious penthouses. Offering relaxed waterside living, the tower will also include a restaurant, swimming pool, health club, media room and 78 parking spaces.
The development will showcase cutting edge architecture by internationally respected firm UNStudio. Ben van Berkel, UNStudio's Co-Founder and Principal Architect, comments:
"The detailing and contrasting materials on the facade and the balconies of the City Road Tower play a key role in the identity of the building and are, in fact, borrowed from furniture design. This is an approach which we more typically apply to designs for smaller private houses. However, following extensive research into the potential for extending durability and maintenance we were able to create unexpected material variations on a larger scale."
The project lies halfway between the City of London and Angel, Islington and is close to the restaurants, cinemas and retail attractions of Islington while also being in walking distance of Bank.
Aref Lahham of Orion Capital Managers says: "We are pleased with the progress being made to redevelop the site, which is surrounded by popular cosmopolitan communities. The Canal Basin is being transformed into one of London's most stylish waterside residential quarters with galleries, restaurants and what will be a superb retail environment. With such an exciting design, 257 City Road will be a highlight of this regeneration effort and a landmark for the area.
"Groveworld, a very experienced developer in this part of London, is the perfect partner to ensure this innovative and challenging development will breathe new life into the City Road Basin area."