Shared-ownership homes in Angel: Zone 1 first-time buyer flats from £140,000

Smart canalside flats at the heart of the N1 action are available for under £140k as part of a shared-ownership scheme at Islington’s new City Wharf development.

First-time buyers have become used to making painful compromises. The possibility of living in Zone 1 — with shops, bars and restaurants on the doorstep, and within cycling distance of work — for under £140,000 sounds almost impossible.
 
Yet City Wharf, a canalside development from Fabrica by A2Dominion, ticks all these boxes and more.
 
In fact, the only compromise residents will have to accept is that to buy into this corner of Islington, they will only be able to start off owning a quarter share of their first home.

If this is not a deal breaker, then City Wharf, on Wharf Road, overlooks Wenlock Basin, with narrowboats moored decoratively around it. Timber and Corten steel cladding on the building reflect the basin’s industrial history — it was once a base for barges laden with timber, coal, iron and stone.
 
The location is hard to beat — with Islington’s Upper Street and the increasingly brilliant King’s Cross to its west, and the tech hub of Old Street and fashionable Hoxton to the east.
 
The nearest Tube station is Angel on the Northern line in Zone 1, so the commute to central London and the City is a breeze. From 2018, it will also be possible to pick up Crossrail services to the West End and Heathrow from Farringdon station, just over a mile away.
 

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First-time buy: 28 shared ownership homes are available at City Wharf


There are endless bars and restaurants within five or 10 minutes’ stroll. It is also not far from the Almeida Theatre, Whitechapel Gallery, the 02 Academy Islington, Sadler’s Wells and the Everyman Screen on the Green.
 
The Islington Boat Club, based at the adjacent City Road Basin, can teach you to sail, kayak or paddleboard.  “The unique combination of canalside living, great transport links and nearby nightlife makes City Wharf a great investment,” says Rosie Nesbitt, Fabrica’s group sales and marketing director. “It is so near the City, Islington and Hoxton, and with City Road’s ongoing regeneration, this has to be one of the most exciting neighbourhoods.”
 

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Close to the action: Islington's bars and restaurants are within a five or 10 minute stroll from City Wharf


Perhaps the only downside with this project is the lack of immediate green space. But Shepherdess Walk Park is close by, although tiny, and Victoria Park, the nearest substantial open space, is two-and-a-half miles away. If it’s flowers you want, Columbia Road Flower Market is closer.

Prices start from £138,750 for a 25 per cent share of a one-bedroom flat. Two-bedroom new homes start at £198,750 for a 25 per cent share.
 
There are 28 shared-ownership homes on the site.
 

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Retro must-go: Camden Passage in Angel, Islington, for all things vintage, collectable and antique. Image: Alamy


The knowledge: Angel
Past: the area is named after an old inn that stood at the junction of Pentonville Road and Islington High Street. The pub closed in 1921 and its site is now occupied by offices.
 
Future: the proposed Crossrail 2 would provide a new rail link south-west from Angel towards Chelsea and Clapham, although not until 2030.
 
Trivial pursuit: The Angel Islington is the third-cheapest property on the Monopoly board.
 
First-time buy: 
getting a mortgage will be tough, and there are annual mooring fees to consider, but for £130,000 you could be the proud owner of a 50ft one-bedroom narrowboat moored on Wenlock Basin.

Eat: there is an embarrassment of riches in Upper Street, but the chocolate mousse with salted pistachio praline at Oldroyd swings it.
 
Drink: Bloody Mary at The Bar with No Name, Colebrooke Row.
 
Walk: along Regent’s Canal towpath.


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