Billingsgate and Smithfield wholesale markets are set to move to a shared site on Albert Island in east London’s Royal Docks, under plans announced by the City of London Corporation and the Greater London Authority (GLA). The scheme replaces the Corporation’s previously proposed relocation to Dagenham, which was dropped last year.
The move is contingent on securing planning permission from Newham Council and parliamentary approval to de-designate the existing market sites. A memorandum of understanding between the Corporation and the GLA has been signed to underpin joint working on the project.
The Royal Docks site, owned by the GLA, already benefits from outline consent for 69,700 square metres of development and a new boatyard. It sits within London’s only Enterprise Zone and forms part of the Royal Docks and Beckton Riverside Opportunity Area, positioning the markets at the heart of a major regeneration corridor.
The partners will now open discussions with potential development partners and the Port of London Authority, which operates the neighbouring shipyard. The City Corporation said the relocation is intended to secure the long-term future of the wholesale food markets while releasing their current central London land for redevelopment.
Plans for the existing Smithfield site include transforming the complex into a cultural and commercial quarter linked to the London Museum. Around 4,000 homes are earmarked for the Billingsgate site in Poplar, with the markets’ departure seen as a key step in unlocking those proposals.
Traders have cited congestion and the constraints of listed buildings at the current locations as barriers to growth. Most operators have agreed to move together, while others intend to transfer their businesses to fellow traders to maintain existing trade patterns.
Economic modelling by the Royal Docks Team – a joint initiative of the Mayor of London and the Mayor of Newham – suggests the relocation could generate £750m in local expenditure, 2,200 jobs and £130m in gross value added for Newham over 30 years. The team forecasts that wider UK economic benefits could be more than double that figure over the same period.
The Corporation has confirmed that both markets will continue trading at their current sites until at least 2028. Following the move, they will be rebranded as New Billingsgate and New Smithfield.
A new onsite food school is planned at Albert Island to build on existing training programmes and expand apprenticeships and skills development in butchery, fishmongery and related trades. The facility is intended to serve communities across Newham and the wider South East.
City Corporation policy chairman Chris Hayward said the relocation would enable new housing and cultural projects to proceed while safeguarding the markets’ future, describing the plans as “undeniable progress”. Deputy mayor for business and growth Howard Dawber said the move would bolster one of London’s most significant regeneration schemes, while Newham mayor Rokhsana Fiaz said the borough was “honoured” to be considered as the markets’ new home.
