Two of London's most iconic and historic wholesale markets are poised for a major move, with the City of London Corporation identifying a preferred new site at Albert Island in the Royal Docks. Smithfield Meat Market and Billingsgate Fish Market, the largest of their kind in the UK, are scheduled to leave their long-term central London homes in 2028.
A New Chapter at the Royal Docks
After plans to relocate the markets to Dagenham were scrapped due to escalating costs, a new solution has been found in East London. The City of London Corporation, in collaboration with the Greater London Authority (GLA), has earmarked the eastern end of the Royal Docks as the future home for both trading hubs. This will allow the meat and fish markets to operate side-by-side for the first time.
The relocation is not yet finalised. It remains subject to the passage of a Parliamentary Bill to facilitate the closure of the current sites and will require planning permission from Newham Council. However, the corporation reports that the majority of traders from both markets have agreed to the move. Those who have not will transfer their businesses, ensuring 100 percent of existing trade continues at the new location, to be known as New Smithfield and New Billingsgate.
Benefits for Traders and the City
The proposed Albert Island site offers significant advantages. Located within the M25 but outside the London Congestion Charge Zone, it could allow traders to extend their operating hours. Smithfield Market currently closes early at 6.30am to avoid daily congestion fees, a constraint that would be lifted.
Greg Lawrence, Chairman of the Smithfield Markets Traders’ Association, welcomed the progress: "Identifying a preferred new site marks a significant step forward... This location offers traders the space and opportunity to grow our businesses while continuing to serve customers across London and the South East."
Legacy and Redevelopment
The move will unlock the historic central London sites for major transformation. The Smithfield site in Farringdon, active since the 1860s, is slated to become the new London Museum. The Billingsgate site in Poplar, home to the fish market since 1982, will be redeveloped into housing.
Chris Hayward, Policy Chairman of the City of London Corporation, framed the move as an investment in London's future: "Redeveloping the current market sites will contribute billions of pounds in economic growth, thousands of new jobs and thousands of new homes." He acknowledged there is more work to do, including agreeing on a developer, but called the identification of the Royal Docks site "undeniable progress."
