14:43 04 Nov 2008
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Plans for a 150m high tower in Islington could be scaled back, despite developer Derwent just winning a year-long battle for planning approval.
The 39-storey tower on the corner of Old Street and
Designed by Squire & Partners, the 18,500m2 scheme was to feature 225 homes and a second nine-storey tower as well as shops and offices.
A spokeswoman for Derwent said despite approval, the project’s details would now be reassessed in light of market conditions.
“It will proceed, but in that form, they don’t know,” she said.
“It may change and the developers will be looking at the market conditions and demand, which may see changes made.”
Islington Council, which rejected plans for the tower in 2007 because of concerns over “height and bulk”, will appeal the approval.
However, a source at the council said it was doubtful that any further objections would be successful.
Islington councillor Ruth Polling said: “We are bitterly disappointed with the decision. Local people told us that this tower block is far too high – this is a residential area, not just an extension of the city.
“But the concerns of local people have been completely dismissed by the Labour minister, and now this 39-storey corporate identikit monstrosity will be built anyway.”
Derwent refused to reveal a new timescale for the project at the risk of “putting its’ neck on the line”.
“There is no pressure to make a decision and the developers will be waiting for the right opportunity to make a decision,” the spokeswoman said.