London’s Smithfield and Billingsgate markets, both steeped in history, are set to close their doors permanently by 2028, following a decision by the City of London Corporation. The announcement ends nearly nine centuries of food trade at the markets, which are considered vital to London’s culinary and cultural heritage.
Smithfield, the UK’s largest wholesale meat market and one of Europe’s biggest, has operated at its current site near St. Paul’s Cathedral since the 1860s. Its roots, however, date back to the medieval period as a livestock market. Billingsgate, the UK’s largest inland fish market, traces its origins to 1327, having moved to its present location in Poplar, East London, in 1982.
The Corporation has announced plans to redevelop the sites. Smithfield will become a cultural and commercial hub, including the new London Museum, while Billingsgate’s location will be transformed into housing to address London’s acute housing shortage.
Initially, the Corporation had proposed consolidating Smithfield, Billingsgate, and New Spitalfields markets into a £1 billion purpose-built facility in Dagenham. However, the plan was scrapped earlier this month due to escalating costs, despite £308 million already spent on purchasing and preparing the site.
Traders at both markets have expressed frustration and dismay, with many feeling the compensation offered is insufficient to set up elsewhere. The closures are expected to have a ripple effect on London’s fish and meat supply chains, with concerns about how local businesses will source their products in the absence of these markets. “London will be without a fish supplier,” one trader noted, emphasizing the need for a replacement market.
Brexit, the pandemic, and regulatory changes were cited by traders as factors contributing to the markets' decline. The removal of licensing requirements for fish porters marked a turning point, with one trader lamenting, “For the younger guys down here it’s not good.”
Chris Hayward, policy chairman of the Corporation, described the decision as a “positive new chapter,” emphasizing that it empowers traders to operate independently. He assured financial and logistical support for traders during the transition.
However, critics argue that the closures prioritize commercial redevelopment over preserving London’s historic markets and their cultural significance.
The redevelopment of Smithfield into a cultural hub aligns with the City of London’s vision for modernizing the area. Meanwhile, the Dagenham Dock site, initially intended to host the consolidated markets, remains under review, with Barking and Dagenham Council pledging to explore alternative uses for the location.
