Plans to co-locate London’s wholesale food markets of Billingsgate and Smithfield to a new site at Dagenham Dock have been dropped, the City of London Corporation’s Court of Common Council has confirmed.
Under a new agreement with market traders, financial support will be provided to help them relocate to new premises, ensuring their continued success.
The City Corporation said it is actively supporting traders to identify suitable new sites to ensure they can continue their essential role in London’s food supply chain. Meanwhile, traders will continue their operations at Billingsgate fish market and Smithfield meat market until at least 2028 to ensure a gradual transition period with ample time for planning and collaboration on next steps.
The City Corporation explained that the decision reflects a careful balance between respecting the history of Smithfield and Billingsgate Markets and managing resources for this project responsibly.
Project costs have risen due to a number of external factors, including inflation and the increasing cost of construction which have made the move unaffordable, it said.
New Spitalfields Market, which has a longer operational life and modern infrastructure, remains unaffected by this decision and will continue to serve as a key hub for wholesale fruit and veg produce in London.
“This decision represents a positive new chapter for Smithfield and Billingsgate Markets in that it empowers traders to build a sustainable future in premises that align with their long-term business goals. By stepping back from direct market operations, we will help to create opportunities for these businesses to thrive independently. We’ve worked closely with the traders and thank them for their input and understanding. We’re committed to making sure they have the financial support and guidance they need to transition seamlessly and successfully to new locations,” City of London Corporation Policy Chairman Chris Hayward said.
Barking and Dagenham Council Leader, Councillor Dominic Twomey, said the news was disappointing but understandable, given the financial pressures that key investment projects are facing with soaring inflation in recent years.
“We are committed to continue working with the City of London Corporation to unlock the huge potential of the Dagenham Dock site to bring new employment uses and high-quality jobs for local people. And we will continue to build on the benefits that our partnership work has already delivered, including a fantastic programme of food education across our borough,” he said.
Both Smithfield and Billingsgate markets are governed by primary legislation (Acts of Parliament) which effectively fixes the markets to the existing sites and imposes certain rights, restrictions and obligations as to the use of the land. A Bill is required to repeal that legislation, which will enable the cessation of the operation of the markets at their existing sites; and enable the land of the existing sites to be used for other purposes.
Dating back to the 1700s, Billingsgate is the oldest fish market in London and the largest inland fish market in the UK, with an average of 25,000 tonnes of fish and fish products sold every year.
The market moved to its current site in Poplar, east London, in 1982, where it supplies fish to businesses, fishmongers, fish-and-chip shops, delicatessens and restaurants. The site has been earmarked as the location for new homes.
