Two of London’s oldest and most storied food markets, Smithfield and Billingsgate, are set to begin a new chapter in the Docklands after the City of London Corporation confirmed Albert Island as their future home.
The decision marks a dramatic turnaround after both markets appeared destined for closure last year when rising costs forced the Corporation to abandon a £740 million relocation plan to Dagenham. At the time, traders feared the historic meat and fish hubs, which have supplied London for more than eight centuries, would be lost entirely.
Instead, the Corporation has now earmarked a 10-hectare brownfield site at Royal Docks, next to London City Airport, offering a lifeline to traders and preserving a piece of the capital’s commercial heritage. The move is subject to planning approval from Newham Council and the passage of a private bill through Parliament to repeal the Acts that legally tie both markets to their current sites.
The Corporation estimates the project will generate £750 million in local economic activity and support around 2,200 jobs in one of London’s most deprived boroughs. Plans for Albert Island also include a new shipyard for Thames vessels, a marina and further regeneration initiatives.
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