A site has been identified in the Royal Docks in Newham for the relocation of Billingsgate and Smithfield wholesale markets.
Billingsgate and Smithfield Market Traders, the City of London Corporation and the Greater London Authority (GLA), have agreed to move the markets to the Albert Island site, subject to the successful passage of the Parliamentary Bill to provide for the cessation of the markets at their current sites.
Planning permission from Newham Borough Council is also required to enable the markets to operate on the site, which is owned by the GLA.
The markets will continue to operate at their current locations until at least 2028, giving time for existing traders to plan and smoothly transition to the new sites, subject to the bill being passed. The markets will be known as New Billingsgate and New Smithfield respectively once they relocate.
Chris Hayward, policy chairman of the City of London Corporation, said: “We are investing in London’s future. By following through on our commitment to support traders to relocate and to ensure our plans for new housing and culture at the vacated sites come to fruition, we are laying the foundations of future economic growth across the Square Mile, London and the UK.
“Redeveloping the current market sites will contribute billions of pounds in economic growth, thousands of new jobs and thousands of new homes. There’s a lot more to do – and a developer to be agreed – but this is undeniable progress. We are excited for the future, and by ushering in a new era for these historic markets, we’re creating a win-win for traders and Londoners. I look forward to sharing more progress as these plans take shape.”
Howard Dawber, deputy mayor for business and growth, added: “Billingsgate and Smithfield are two of London’s most historic and well-known markets, employing hundreds of traders. I am delighted that significant progress is being made towards relocating these businesses to the Royal Docks. The Royal Docks is one of the most exciting regeneration projects in London, delivering thousands of new homes and jobs – and it is wonderful to have Billingsgate and Smithfield on board as a key part of our plans for the future.”
Rokhsana Fiaz OBE, mayor of London, said: “Billingsgate and Smithfield are two of the great historic markets that have been feeding Londoners for hundreds of years, and internationally renowned. For Newham to potentially be the new home for the markets over at our majestic Royal Docks would be a great honour and testament to the vision we have for our borough as a place to do business and drive inclusive growth.
“Working with the City of London Corporation and the GLA, the two markets would showcase the Royal Docks as one of the most exciting destinations in London as we play our part in driving London’s growth; and continue our Opportunity Newham for our local residents through creating new jobs.”
Greg Lawrence, chairman of Smithfield Markets Traders’ Association, added: “Identifying a preferred new site marks a significant step forward – and we’re well ahead of where we thought we’d be by Christmas. This location offers traders the space and opportunity to grow our businesses while continuing to serve customers across London and the South East. Along with my fellow traders, we will continue to work closely alongside the City of London Corporation, which has led efforts to identify a new site. We’re now all keen to get cracking with the next steps.”
Tony Lyons, chairman of London Fish Markets’ Association, said: “Finding a site just a few miles away means we’ll still serve our customers while vastly improving both our working environment and ability to expand. Although there’s more work ahead of us to design a new, modern market, we’ll be staying open for business where we are for several more years. Identifying a new location means we can hopefully put people’s minds at rest that we – and the City of London Corporation – are doing exactly what we said we’d do; find a new home inside the M25 and create a vibrant future for these historic markets.”
