Silicon Tower due for completion in 2016 pic:Mount Anvil

A £160m residential tower is to be built near east London’s tech hub Silicon Roundabout.

The 36-storey building, aptly named ‘Silicon Tower’, is being jointly developed by Mount Anvil and housing association Affinity Sutton.

Silicon Tower is located at 261 City Road. It overlooks Regents Canal and includes over 300 residential apartments. There will be affordable housing run by Affinity Sutton, as well as 785sq metres of mixed-use commercial space.

Work on the tower is set to begin in April 2012, with completion planned for July 2016.

Killian Hurley, Chief Executive of Mount Anvil, 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.”

Skidmore, Owings & Merrill Architects has been appointed to create what will become Islington’s tallest structure. The group was also responsible for the world’s tallest building, the Burj Khalifa in Dubai.

Mount Anvil and Affinity Sutton purchased the 0.92 acre site from Pembroke Real Estate, the asset managers for Fidelity Investments & Fidelity International. The development forms part of the long-running City Road Basin Masterplan, which is to regenerate the former industrial land surrounding Regent’s Canal.