London’s Smithfield and Billingsgate markets to close

Smithfield and Billingsgate food markets in London are facing closure after the City of London ended its interest in relocating them to Dagenham, east London.

 

The local authority’s Common Council yesterday (26 November) voted to scrap the proposed move to a new site at Dagenham Dock. A bill is being deposited in Parliament today to propose ending the corporation’s responsibilities in operating the historic markets at their respective sites.

 

The City of London cancelled the project as it reported costs had risen due to factors including inflation and the increasing cost of construction, which it said have made the move “unaffordable”. The council had already spent a reported £308m preparing the Dagenham site.

 

The local authority stated that under a new agreement with traders, financial support will be provided to help them relocate to new premises. It said it is helping traders to identify suitable new sites to ensure that they can continue their role in London’s food supply chain and is in close dialogue with them and other wholesale markets about this already.

 

Traders will continue their operations at Smithfield and Billingsgate until at least 2028 to enable a gradual transition period.

 

Policy chairman of the City of London Corporation, Chris Hayward said: “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.”

 

A City of London Corporation spokesperson told The Caterer: “The key strength of Smithfield and Billingsgate markets has always been the traders, not the buildings. We understand that around 90% of Smithfield traders and around 70% of Billingsgate traders intend to stay in the business.

 

“In the short term, the markets will remain open until at least 2028 and longer-term, we are committed to helping traders find and re-locate to new premises.”

 

Nearby operators were critical of the decision, with Edmund Weil, founder of Speakeasy Entertainment, saying: “We opened Oriole below Smithfield market back in 2015, and we loved the hustle and bustle of the night market. Farringdon will be losing that with the closure, and London will be losing a part of its history. The market is such a longstanding and significant part of the City’s history – it’ll be terribly sad to see it go.”

 

Drew Snaith, chef founder of Sesta restaurant in Hackney, said: "The news that Billingsgate and Smithfield will both close is a huge shame for London. They’ve been such an important part of the city and the fabric of London’s restaurant scene.

 

“Going to those early morning markets is a bit of a rite of passage for a chef. I remember the first time I went to Billingsgate when I was doing a pop-up and I wanted to get some great value fish. I arrived at 3am and loved how energetic and wild it was, it felt almost like a nightclub. I’m thinking of all the traders right now. I’ll be very sad to see it close.”

 

Meanwhile, Gary Foulkes, executive chef at Cornus restaurant in London’s Victoria, added: “It’s a huge shame that something so iconic to the community and part of London’s working history has been discarded in this way. Smithfield is a one-off building, steeped in this city’s culture, and places like it should be protected at all costs as part of London’s heritage. The City of London Corporation and the mayor should not have let this happen on their watch.”

 

New Spitalfields Market remains unaffected by this decision and will continue to serve as a hub for wholesale fruit and veg produce in London.

 

Smithfield meat market and Billingsgate fish market have been fixtures of the London food supply chain since 1327. Smithfield market was moved to Islington in 1852 but by 1868 had returned to the City.

 

In 1982, Billingsgate relocated from the heart of the City to Poplar, near Canary Wharf. It supplies fish to businesses including fishmongers, fish-and-chip shops, delicatessens and restaurants.

 

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