Smithfield Market and Billingsgate Market could move to a site in the Royal Docks.
We've known for a while that the ancient meat and fish markets would close on their current sites before 2030. The fate of the traders remained uncertain, but a new announcement seems to herald a positive future.
The City of London Corporation, which currently operates the markets, has announced a new site in the Royal Docks where the two facilities could trade alongside one another. The location, at the extreme eastern end of the docks, is known as Albert Island, and has already been earmarked for regeneration.
According to the City's press statement, "Most of the Traders from both markets have agreed to move together to a new site with the remaining intending to transfer their business to others, ensuring that 100% of trade will continue". The move would not happen before 2028.
The plans are still tentative. Like any development, the market site would need to go through the planning process, in this case with Newham Council. This would include detailed work on how the markets would be supported logistically. The markets also need to secure a Parliamentary Bill to cease trading on their current sites.
Today's news represents a way forward rather than a fully realised plan. To that end, a memorandum of understanding has been signed by The City of London Corporation and the Greater London Authority to work together on the opportunity.
Following the move, the City of London's role as operator would cease. The markets would then operate independently but as part of the Royal Docks Enterprise Zone. They will benefit from modern purpose-built facilities and, in Smithfield's case a much-less-congested environment. According to a City spokesperson, the "site has potential to offer future expansion space which is important to the Traders and to the country as a whole to protect food security".
Meanwhile, the traders are also pleased. According to Greg Lawrence, Chairman of Smithfield Markets Traders’ Association:
“Identifying a preferred new site marks a significant step forward — and we’re well ahead of where we thought we’d be by Christmas. This location offers Traders the space and opportunity to grow our businesses while continuing to serve customers across London and the South East."
But I thought the markets were closing?
The situation is somewhat confusing. Here's the story so far...
April 2019: The City of London Corporation announces plans to move Smithfield, New Billingsgate and New Spitalfields markets to one mega-site in Dagenham.
November 2024: Dagenham is off! The City of London announces that the markets will still close, but they will NOT now relocate to Dagenham. This seems to spell the end for Smithfield Market and Billingsgate Market as coherent entities.
November 2025: The Smithfield and Billingsgate names will continue (assuming the plans go ahead) at a new site in the Royal Docks.
What's to become of the existing market sites?
Detailed plans have yet to emerge. The Grade II*-listed Smithfield buildings are expected to become some form of cultural space, to complement the adjacent London Museum. (As we've argued before, they should be turned into a giant play centre with London-themed playground equipment and softplay... the Square Mile lacks any proper playground.) Meanwhile, the New Billingsgate site in Poplar will be redeveloped into housing.
Read our history of the Smithfield site, and the Billingsgate , over on Londonist: Time Machine.
