London’s Historic Smithfield and Billingsgate Markets to Close

After centuries as pillars of London’s food supply, the Smithfield meat market and Billingsgate fish market are set to close following a decision by the City of London Corporation to withdraw its operational role. The historic markets, which date back to the 14th century, will remain open until at least 2028, allowing traders to transition to new premises with financial support.

The City of London Corporation (CoLC) confirmed the closure after cancelling a proposed £1 billion relocation project to Dagenham Dock due to spiralling costs. Inflation and rising construction expenses rendered the move “unaffordable,” with the Corporation already having spent £308 million preparing the Dagenham site. Instead, a bill will be introduced in Parliament to relinquish the Corporation’s legal responsibility for running the markets.

Smithfield market, in operation for nearly 900 years, is the UK’s largest wholesale meat market, known for its vibrant night-time trade. Billingsgate, the country’s leading inland fish market, has supplied fish to Londoners for centuries, moving to its current site near Canary Wharf in 1982. Together, these markets have long been cornerstones of the city’s food supply, catering to fishmongers, restaurants, and delicatessens.

While the markets’ closure marks the end of an era, the Corporation insists this decision will enable traders to secure sustainable futures. Policy chairman Chris Hayward expressed gratitude to traders: "We are committed to ensuring they have the financial support and guidance needed to transition successfully to new locations.”

Despite assurances, the decision has drawn criticism from traders and industry professionals. Many expressed concern about the loss of these historic institutions and the practical challenges ahead.

Joe Howgate, a young butcher at Smithfield, described the closure as a “nightmare” for traders who may need to commute long distances to new sites. Similarly, restaurateur Drew Snaith lamented the impact on London’s culinary culture, calling the markets a “rite of passage” for chefs and a vital part of the city’s identity.

Gary Foulkes, executive chef at Cornus in Victoria, echoed these sentiments, highlighting Smithfield’s unique architectural and cultural significance. “Places like it should be protected at all costs,” he remarked, criticising the Corporation’s inability to preserve such landmarks.

While New Spitalfields Market remains unaffected, the closure of Smithfield and Billingsgate leaves a significant gap in London’s food infrastructure. Questions loom over where traders will relocate and how Londoners will source wholesale meat and fish in the future.

The transition period provides time for solutions, but the long-term impact on London’s food ecosystem and heritage remains uncertain. The Corporation’s decision to repurpose the Smithfield site into a cultural and commercial hub, including the new London Museum, signals a shift in priorities, sparking debate over the balance between heritage and modernisation.

As London prepares to say goodbye to two of its oldest markets, the closure serves as a poignant reminder of the city’s evolving landscape, where history and progress often collide.