The Angel Islington is being developed by Newcastle companies Olive Tree Projects and Plan Manage Construct, who also teamed up to deliver The Hive Wickham last year.

EJE Architecture have designed the five-storey building, which will comprise 17 apartments at 1-3 Fern Street. It will have the words 'Iso' and 'Angel' incorporated into its facade in a nod to a "vibrant" suburb known for its street art.

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Olive Tree Projects director Nick Nicolas said location provided key appeal to the site when it was purchased 12 months ago, identifying Islington as an area of "growth". It offers easy access to the city, harbour and Beaumont Street.

The Angel Islington is being marketed off the plan by Street Property and agent Damon Sellis reported early interest in the development before it was officially launched through the week.

"It's a nice, boutique development. I marketed 24 apartments in Millford Street and they sold really well off the plan and I'm expecting the same response with these," Sellis said.

There will be nine two-bedroom apartments and eight one-bedroom residences with prices starting from $399,000.