In the past couple of years, Holloway Road has undergone a “rebranding”, with new businesses opening and luxury flats being built.
Chicken shops and kebab emporiums were swapped for new hipster organic café and trendy gift shops.
Now there’s a new neighbourhood in town – and it’s looking trendier than ever. “LoHo” (Lower Holloway) is the new name given to part of Holloway Road that runs from Highbury Corner to the Nag’s Head shopping centre.
Organic Salads and Crusty Bread
The Barn on Lower Holloway Road is a prime example of gentrification at its best. It opened its door in February 2015, and offers a range of homemade organic products, from crusty bread to organic salad.
Kush Ukaj, 32, started up his business with his two brothers with the will to bring something new to the neighbourhood. “We wanted to open somewhere central but still in development ,and bring something new and refreshing to the community,” he said. “It’s been great so far!”
The increase in rent prices doesn’t seem to bother Ukaj. “It is good for business, richer people are coming and they are more willing to spend money for nice organic food.
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The barn and the Organic market both opened in the last year and have been knowing a booming success.
Luxury Housing
Coffee shops are not the only one profiting from this “rebranding”, luxury-housing developers are investing more and more money in the area.
On 264 Holloway Road, the company Curell is currently building “ The Harper building”, a collection of apartment blocks offering a range of studio, 1, 2 and 3 bedroom apartments. Prices range from between £495,000 for a studio to £625,000 for a three-bedrooms flat. Eight out of the 15 apartments have already been sold or reserved. The block of luxury apartments will replace local shops.
“I have been living in the neighbourhood for so long and I am so glad I bought my three-bedroom house over a decade ago, because today I wouldn’t be able to afford it around here,” said Lauren Wilson, a 48-year-old advertising consultant. “I wonder what the future is going to look life for Holloway, maybe it is going to be the new Angel.”
Despite property price rises, social housing is still omnipresent in the area. But sky-rocketing prices for everything from food to clothing seems to keep pushing those who can’t afford it out of London and leading them to the outer suburbs, getting poorer
The economist published this map from Neal Hudson, an analyst at Savills to show the reverted gentrification of London in the past decade:
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