London’s historic Smithfield and Billingsgate markets are closing for good

The future of the historic Smithfields and Billingsgate markets has been up in the air for a while now. Recently, a plan to move the fish and meat markets to the outskirts of the city was called off. Now, we’re sad to report that London’s oldest markets are facing permanent closure by 2028. How did we get here?

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The City of London Corporation has voted to withdraw its support for Smithfield meat market in Farringdon, and Billingsgate fish market in Canary Wharf, meaning they could both be gone within four years. Traders have been offered compensation and the corporation has said it will help them find new premises to operate on. 

Why is Billingsgate Market closing?

It’s a story we hear all too often in London these days: the site of the fish market in Poplar, east London, has been earmarked to be developed into thousands of new homes. 

As is the largest inland fish market in the UK, an average of 25,000 tonnes of fish and fish products are sold at Billingsgate every year, providing fish to fishmongers, fish-and-chip shops, delicatessens and restaurants. The original market first traded in Lower Thames Street in the City in 1327, before moving to east London in 1982.

Why is Smithfield Market closing?

Part of world-famous meat market is already being redeveloped to become home to the relocated London Museum. 

Smithfield is the largest wholesale meat market in the UK and one of the biggest in Europe – it has been trading in Farringdon since the 1860s. Before that it was a livestock market, which dated back to the medieval period.

Originally, both markets alongside New Spitalfields were to be relocated to a £1 billion purpose built site in Dagenham, but the plans have been ditched after concerns about the cost. The council had already spent £308 million purchasing and remediating the site on the Essex outskirts. 

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