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Housing Seminar: Partnerships with the Public Sector – Avoiding the pitfalls
Thu 31 May 2012
Minerva House, 5 Montague Close, London, SE1 9BB
Islington Council approves regeneration plans
Fri 09 Apr 2010
Islington Council has backed proposals for what will be biggest regeneration project in the area since the Emirates Stadium.
Two 21-storey skyscrapers will be created in Finsbury Park, which will host shops, offices and residential flats.
Mayor of London Boris Johnson is still to give final approval to the City North project, but building work is expected to begin in the next three years.
Islington Council leader Terry Stacy was among those at the authority to vote in favour of the new development.
He said the Finsbury Park area needs regeneration and this scheme will help to bring this about.
Mr Stacey stated that a regeneration project of this scale is "long overdue", before adding that the council is satisfied with the results of the viability checks it carried out.
The two skyscrapers will be 106 metres high and buildings which currently occupy the proposed site will be bulldozed to make way for the new structures.
Roger Fitton, a partner at Winckworth Sherwood Solicitors, commented: "Winckworth Sherwood have undertaken considerable development work on high rise mixed use schemes.
"They are very capital hungry and the secret of their success is the ability to achieve pre –lets."
