property
28-Storey Tower Approved on City Road: What It Means for Islington's Local Market
The new development adds 200 units to a borough already seeing tight supply and rising demand.
How we reported this
Islington Council approved a 28-storey apartment tower at 45 City Road on 8 July 2026, with construction slated to begin in early 2027 and first completions targeted for December 2028.
The decision arrives at a moment when Islington's residential pipeline has slowed, following a 12 percent drop in new planning consents recorded by the council in the 2025-26 financial year compared with the prior period.
Pressure on Angel and Highbury
The tower will sit three minutes' walk from Angel tube station and overlook the Regent's Canal towpath, placing it between the established Angel Central shopping complex and the Highbury Corner roundabout. Local estate agents report that flats within 400 metres of the canal have commanded a 9 percent premium over comparable stock on Essex Road since 2024. The scheme includes 60 affordable units secured under the borough's intermediate rent programme, a detail that will be monitored by the Islington Housing Association as it allocates tenancies next year.
Price signals and buyer response
Land Registry figures for May 2026 show the average Islington flat price at £712,000, up 3.8 percent on the same month in 2025. The new tower's one-bedroom units are expected to launch from £465,000, according to the developer's indicative pricing schedule submitted with the application. That entry point sits 12 percent below the current median for similar properties within a half-mile radius, a gap that could compress values in the immediate secondary market once the first phase releases. Prospective purchasers have been advised to register interest through the council's planning portal before the statutory consultation period closes on 22 July.
Local agents on Upper Street say viewings for existing stock have already increased by a fifth since the approval notice appeared on the council website. Buyers weighing a move before the tower opens should compare service-charge projections and transport links to Farringdon, now 11 minutes by tube from Angel, against longer-term resale potential once the building is occupied.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.