Two of London’s oldest food markets, Smithfield and Billingsgate, are set to move to Albert Island in the Docklands, the City of London Corporation announced, providing a new lease of life for traders and preserving the capital’s historic wholesale hubs.
The relocation marks a significant turnaround after plans to move both markets to Dagenham were abandoned last year due to rising costs, leaving traders fearing permanent closure. Smithfield, operating near Farringdon for over 800 years, and Billingsgate, beside Canary Wharf since 1982, have long been central to London’s meat and fish trade.
The Corporation has designated a 10-hectare brownfield site at Royal Docks, adjacent to London City Airport, as the future home for the markets. The project, subject to planning approval from Newham Council and a parliamentary bill to repeal existing site restrictions, is expected to generate £750 million in local economic activity and support approximately 2,200 jobs in one of the city’s most deprived boroughs. Plans for Albert Island also include a new shipyard, a marina, and additional regeneration initiatives.
Greg Lawrence, chair of the Smithfield Market Traders’ Association, described the move as “a significant step forward” for the industry, noting that the new location would give traders space to grow their businesses while continuing to supply customers across London and the south-east.
The announcement ends months of uncertainty for traders who worried that closure would disrupt long-standing supply chains and threaten independent fishmongers and butchers. Alicia Weston, founder of the food charity Bags of Taste, said the new site “is the best we could have hoped for” and highlighted the importance of ensuring a replacement market close to the existing locations.
Smithfield is undergoing redevelopment, with two of its buildings being transformed into the new London Museum, scheduled to open in 2026. Billingsgate, meanwhile, had been earmarked for housing as part of Canary Wharf regeneration. Despite declines in volume compared with the pre-supermarket era, the markets still supply around 10% of all meat and fish consumed in London and the south-east, according to an independent report.
Traders will be able to remain in their current sites until at least 2028, allowing time for construction at Albert Island and finalisation of agreements with developers. The new complexes, referred to as “New Smithfield” and “New Billingsgate,” will include a food school and continue apprenticeship programmes to support the next generation of market traders.
Chris Hayward, policy chair at the City of London Corporation, described the decision as “undeniable progress” while noting that the project remains in its early stages. The move offers a rare opportunity to preserve centuries of London’s commercial heritage while boosting local economic development in the Docklands.
