Opening date revealed for new Smithfield and Billingsgate markets
The City of London Corporation has announced a timeline for the relocation of two of London's most iconic markets, Smithfield and Billingsgate, to a new shared site at Albert Island in Newham's Royal Docks. The combined market is expected to be fully fitted out and operational by 2029, provided the Private Bill regarding the move receives Royal Assent by mid-2027.
Once Royal Assent is granted, construction of the new site and the vacating of the current Smithfield and Billingsgate locations are predicted to take approximately two years. The Corporation has agreed to support traders with a compensation package during the transition but will not oversee the management of the markets once the move is complete.
Benefits of the move
Currently, traders at both markets face space constraints that limit their ability to expand their businesses. The relocation to the Royal Docks will shift the markets outside the London Congestion Zone, allowing for extended trading hours. According to the City of London Corporation, this move addresses the lack of expansion space and provides opportunities for growth.
Future of existing sites
Major redevelopments are planned for the existing Smithfield site in the Square Mile and the Canary Wharf-adjacent Billingsgate site once traders relocate. Part of the old Smithfield site is being transformed into a food market with vendors and cooked food stalls, complementing the upcoming London Museum, which has also relocated to the area.
The announcement follows the revealing of the opening date for the long-awaited London Museum, which will occupy part of the old Smithfield site. These developments aim to fill the gap left by the departure of the historic meat and fish markets.
