Mount Anvil is developing the £160m scheme in association with national housing provider Affinity Sutton.

Construction will take until July 2016 to provide 307 apartments in what will be Islington’s tallest tower.

The Silicon Tower scheme at 261 City Road has been designed by Skidmore, Owings & Merrill Architects.

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.

“261 City Road is our eighth scheme in Islington. We have been at the forefront of regeneration in the borough since 2000 and currently have nearly 1,000 homes in development.”

The scheme will comprise 307 residential apartments, 107 of which will be affordable housing managed by Affinity Sutton, alongside 785 sq m of mixed-use commercial space.

There are plans to include a private residents’ spa with treatment rooms, a yoga room, a business lounge and private dining and function room within the luxury scheme.

The development forms part of the City Road Basin Masterplan, which will regenerate the former industrial land surrounding Regent’s Canal in the south-eastern part of Islington.