Photo of Holloway Road. Credit: Jade Lennon
By Jade Lennon
Holloway-based workers are concerned about the lack of community and business opportunities on Holloway Road following the gentrification of the area. These concerns come after the increase in upmarket and chain businesses.
Gentrification on Holloway Road has increased drastically in 2024 and 2025, with major redevelopment projects, rising rent prices and people-friendly streets.
But why is this affecting small local businesses?
Mr Nelson, an employee at Reggae Flames Caribbean Bar & Grill located on Holloway, is adamant he knows the reason why local businesses are seeing the crunch. “It changed because of Arsenal,” he said.
Gentrification of Holloway is heavily influenced by the Emirates Stadium, which opened in 2006.
According to Pure Property Finance, the year the stadium opened, the average property price in N7 was £262,902. Ten years later, the average property price has more than doubled to £618,247.
And the prices continue to skyrocket.
“Small businesses are stifling,” Nelson stated. Because of these drastic prices, local businesses are struggling to stay afloat.
The outside of Pierre Alix. Credit: Jade Lennon
What is gentrification?
According to the Trust for London, gentrification is “when the character of an area changes because wealthier people move in and existing residents are pushed out. It can lead to housing, services, shops and restaurants becoming unaffordable for many members of the local community.”
The Trust identified several characteristics of areas that have been gentrified, including having fewer families with small children, a “remarkable drop in Black communities”, fewer social housing tenants, and fewer children overall. It also said that areas that have been gentrified have more people who work in managerial positions than before.
“Our capital city is at a tipping point,” the report said. “The only way to turn the tide is a once-in-a-generation effort to invest in affordable and social housing. Without this, the diverse blend of communities that makes London so special will be lost. Homelessness levels will rise. One of the world’s most vibrant and diverse cities will be unrecognisably changed.”
No strong sense of community
Elle, an employee at Pierre Alix, a French bakery located on Holloway Road, says that there isn’t a strong sense of community for businesses and the younger generation.
According to Involv, a strong sense of community in the workplace is important.
A lack of community isolates small businesses, impacting them in many ways.
Without a community, revenue and customer loyalty decline significantly. Customers are more likely to prioritise chain businesses like Sainsbury’s and Tesco.
With businesses struggling to make ends meet, Nelson’s question is “How are we going to make a profit?”
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