London's centuries-old Smithfield meat market and Billingsgate fish market have been earmarked for a major relocation to a new home in the city's Docklands. The City of London Corporation, which owns and operates both markets, has named Albert Island as the proposed site for the historic institutions.
From Dagenham to Docklands: A New Chapter
The announcement marks a significant shift in plans, coming just over a year after the corporation axed a proposed £740m move to Dagenham due to rising costs. That decision had sparked a backlash, with concerns over the permanent closure of the markets, which are protected by specific acts of parliament.
The new location is a 10-hectare (25-acre) former industrial site on Albert Island, owned by the Greater London Authority (GLA) and situated close to London City airport. The City of London Corporation estimates the move will generate a substantial £750 million in local expenditure and create around 2,200 jobs in the London Borough of Newham, one of the capital's most deprived areas.
Securing a Future for Historic Traders
The future of the markets had been uncertain. Their long history means they were established by parliamentary acts that fix them to their current sites. They can only be closed or moved when parliament passes a private bill to repeal this legislation.
This process faced disruption from objections, including from a group of east London fishmongers from Ridley Road market who argued that Billingsgate's closure would put them out of business. The corporation has now assured traders they can remain in their current locations until at least 2028.
Greg Lawrence, chair of the Smithfield Market Traders' Association, welcomed the Albert Island proposal, calling it a "significant step forward." He stated the location offers traders "the space and opportunity to grow our businesses while continuing to serve customers across London and the south-east."
Regeneration and a New Legacy
The relocation is part of a wider regeneration strategy. The corporation plans to transform the current Smithfield site, near Farringdon station, into a cultural destination, with the new London Museum scheduled to open there in late 2026. The Billingsgate site is slated for new homes.
Chris Hayward, the City of London Corporation's Policy Chair, said the agreement with the GLA represented "undeniable progress" that would usher in a "new era for these historic markets." The new facilities, to be known as New Smithfield and New Billingsgate, would continue their apprenticeship programmes and include a new food school on site.
The final move remains subject to planning permission from Newham Council, and a developer for the Albert Island project is yet to be agreed. However, after years of uncertainty, a clear path forward for London's iconic food wholesale centres now seems to be taking shape in the heart of Docklands.
