Billingsgate and Smithfield markets could relocate to a new site at Royal Docks

Two of Londons most prominent wholesale markets, Billingsgate and Smithfield, may be moving to a new location following initial proposals that identified Albert Island in the Royal Docks as a potential new site. Discussions between the City of London Corporation, the Royal Docks Team, and market traders have led to an in-principle agreement for the move. The relocation is part of a broader effort to find a suitable location within the M25, as set out in plans initiated in December 2024.

The proposed shift is expected to generate substantial economic benefits, with an estimated 750 million ($1 billion) in local spending. It will support over 2,200 jobs and contribute approximately 130 million in gross value to the economy of Newham. Over the course of 30 years, the economic impact could more than double, benefiting the entire UK.

The relocation is contingent on the UK Parliament passing the necessary legislation to discontinue market operations at their current locations, as well as obtaining planning approval from Newham Council for the Albert Island site. The Royal Docks Team currently holds planning permission for around 750,000 square feet of development, which includes plans for a new boatyard in London.

Following the decision by the City of London Corporation members last year to abandon a planned move to Dagenham, discussions resumed with stakeholders about other potential relocation sites. Factors such as traffic congestion, restrictions, and Smithfields protected status have made expansion at the current locations increasingly difficult. As a result, most market traders are in favor of relocating. Those remaining at Billingsgate and Smithfield will transfer their operations to other colleagues, ensuring that business continues seamlessly.

Market activities at both Billingsgate and Smithfield are expected to continue until at least 2028, with plans for the relocation well underway. Once completed, the markets will be known as New Billingsgate and New Smithfield.

Howard Dawber, Londons Deputy Mayor for Business and Growth, commented: Billingsgate and Smithfield are two of the most iconic markets in London, providing livelihoods for hundreds of traders. Im pleased to see significant progress in moving these businesses to the Royal Docks. He also emphasized that the Royal Docks represents one of Londons most exciting regeneration projects, promising new homes and job opportunities, and it is wonderful to include Billingsgate and Smithfield as part of these future plans.

The move is also aimed at sustaining the food distribution system in London and Southeast England, ensuring job retention in UK ports, and supporting employment in the fishing industry.

Rokhsana Fiaz, Mayor of Newham, expressed pride at the potential relocation: Billingsgate and Smithfield have been feeding Londoners for centuries and are internationally renowned. For Newham to become the new home of these historic markets would be a great honor and reflect the vision we have for our borough as a place to do business and foster inclusive growth.

Author: Zoe Harrison