An unloved one-way system looks certain to bite the dust as a bold new plan is announced.

A scheme to rip up Archway Gyratory and replace it with two-way traffic, cycle lanes and pedestrian areas goes out for consultation today according to a Transport for London (TfL) statement.

If it gets the nod, cars would drive round three sides of the central island with the fourth side – next to the station – closed to vehicles creating a new, open public space and a more accessible town centre.

A two-way, segregated cycle lanes would go past Archway Tube Station, which would also be in line for an upgrade.

If all goes well, work could be started early 2016 and finished during 2017.

Mayor of London Boris Johnson, said: “The Archway gyratory is a notorious, badly designed relic of the 1960s, which residents, businesses and road users have long wanted overhauled.

“We have worked closely with Islington Council on these plans and with segregated cycle lanes and improved pedestrian crossings this ambitious scheme is set to give Archway the facelift it deserves.”

Cllr Claudia Webbe, Islington Council’s executive member for environment and transport, said: “We are pleased local people now have the opportunity to have their say on TfL’s Archway gyratory plans.

“The council and the local community have long campaigned for improvements to be made to this busy and dangerous one-way road system.

“We feel the latest design provides some real opportunities and benefits for the local community and will help to regenerate the area providing a new public open space and safer pedestrian routes, improving resident access to the businesses on the Archway island as well as giving cyclists a safer passage through the junction.

“We want local residents and businesses to have their say on the proposals, and will ensure that TfL listen very carefully to these views.”

The plans for the gyratory are part of a wider scheme to spend £4billion modernising London’s roads - including scrapping one way systems and roundabouts in Old Street, Highbury Corner, Nag’s Head Holloway and King’s Cross.

Leon Daniels, Managing Director of Surface Transport at TfL, said: “The Archway gyratory has been the bane of drivers, cyclists and bus passengers for many years. This scheme would bring the antiquated road layout into the 21st Century, creating a new public space to benefit local residents and businesses, as well as make it easier and safer for people to travel through the area.”

For more information on the Archway Gyratory plan, click here

Click here to see detailed plans of the new road layout