The historic Smithfield and Billingsgate markets could relocate to a new site at the Royal Docks in east London under fresh proposals.
The City of London Corporation, which operates the centuries-old meat and fish markets, said it was working with the Greater London Authority and Newham Council on plans to turn Smithfield Market’s current City of London site into cultural space and to use Billingsgate Market’s Poplar site for new homes. The corporation emphasised that securing the future of the markets would help protect food security for London and the South East, as well as jobs in ports across the UK.
Under the proposal, both markets would operate from Albert Island, near London City Airport, on land earmarked for wider regeneration. The move is estimated to generate around £750m in local expenditure and create more than 2,200 jobs. This follows plans to relocate the markets to Dagenham, which were abandoned last year.
City of London Corporation chairman Chris Hayward said: “By following through on our commitment to support Traders to relocate, and to ensure our plans for new housing and culture at the vacated sites come to fruition, we are laying the foundations of future economic growth across the Square Mile, London and the UK.”
Greg Lawrence, chairman of Smithfield Markets Traders’ Association, described the plans as a “significant step forward” and said traders are eager to begin the next stage. Most traders from both markets have agreed to move together, although the current markets will remain open until at least 2028. The relocation will require an Act of Parliament to allow the closure of the existing markets and planning permission from Newham Council.
Smithfield Market is the largest wholesale meat market in the UK and among the largest in Europe. The current market has operated at the site since the 1860s, having previously been a livestock market dating back to the medieval period. Work has already started to transform the site into a new cultural and commercial hub, including the new London Museum.
Billingsgate Market is the largest inland fish market in the UK, trading an average of 25,000 tonnes of fish and fish products each year. The market first operated in Lower Thames Street in 1327 before moving to its current site in 1982. It supplies fish to fishmongers, restaurants, delicatessens, and fish-and-chip shops across the region.
