Two of London's most iconic and historic wholesale markets are set for a major move, reuniting for the first time in decades. Smithfield Meat Market and Billingsgate Fish Market have identified a preferred new site at Albert Island in east London's Royal Docks, with relocation planned for 2028 at the earliest.
A New Home After Years of Uncertainty
The complex relocation process, which has been mired in controversy, took a significant step forward after traders and authorities agreed on the Albert Island plot. The site, on the eastern edge of the Royal Docks, was selected by the City of London Corporation, the Greater London Authority (GLA), and representatives of the markets' traders.
This decision follows a period of great uncertainty for the 900-year-old Smithfield Market. Its future was thrown into doubt last year when City officials voted to close it to make way for the new London Museum. An initial plan to move Smithfield to Dagenham collapsed due to cost concerns, leading the Corporation to explore compensation for traders while searching for an alternative site.
Reuniting Historic Neighbours
The move to Albert Island will see the two legendary markets operating in close proximity for the first time in over 40 years. Billingsgate left its original City of London location on Lower Thames Street for Canary Wharf back in 1982.
Chris Hayward, Policy Chairman of the City of London Corporation, stated: "We are investing in London’s future. 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."
Next Steps and Historical Legacy
The monumental relocation is not yet a done deal. It remains subject to the successful passage of a Parliamentary Bill to approve the closure of the markets at their current sites. Furthermore, Newham Borough Council must grant planning permission for the markets to operate from the Albert Island location.
Smithfield's history is profoundly deep, with origins tracing to the tenth century. The City of London Corporation has operated it since 1327, when King Edward III granted it the right to run food markets. Following the move, the markets will be rebranded as New Smithfield and New Billingsgate respectively.
Greg Lawrence, Chairman of the Smithfield Markets Traders’ Association, expressed optimism: "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."
