The corporation decided in a separate vote last November to permanently close Smithfield and Billingsgate when it pulled the plug on a planned £740m relocation to a new site in the east of the capital at Dagenham, blaming rising costs.
The City of London and Smithfield traders have come to an agreement for the market to move to a 'New Smithfield' which will be 'within the M25'. Traders will move after the historic market in Farringdon closes in 2028.
If the plans proceed, the Smithfield site will become home to the new London Museum, while the land at Canary Wharf that will be unlocked by relocating Billingsgate could provide around 2,000 new homes, it said.
Subject to the successful passage of the Bill, the redevelopment of the Smithfield site will create an international cultural and commercial hub, complementing the London Museum. The Grade II listed building will be reimagined to preserve its history while evolving into modern, state-of-the-art facilities.
The City of London Corporation, the ultimate owner of the property, has been engaged in public consultation to assess how best to redevelop the disused property and regenerate the area.
London's 900-year-old Smithfield meat market to close as Dagenham move abandoned
Where will Smithfield market go?
On 26 November a decision was taken by the Court of Common Council to end the planned move of Billingsgate and Smithfield markets to a new location in Dagenham, and instead to provide financial support to the traders to enable them to move to new locations of their choosing.
News that the City of London Corporation is to close Smithfield meat market and Billingsgate fish market for good by 2028, abandoning plans to relocate them to a new £1bn Dagenham Docks development, is slowly being absorbed by Smithfield traders.
Can the general public buy meat from the Smithfield Market?
Can the public buy? Anyone can buy meat, poultry and provisions at Smithfield. It is open to the public by Charter: walk through the Market, look around, talk to the salesmen on the front of the stalls.
What is the future of the Smithfield Billingsgate market?
The markets will continue trading in their current locations until 2028, but the closure will mark an end to centuries of meat and fish trading in the city.
After 45 brilliant years, London Museum (formerly known as Museum of London) has closed its doors at the London Wall site. This marks the start of the highly anticipated move to its new home at West Smithfield, where it will reopen in 2026 as London Museum.
Smithfield was almost a city within a city – and one with its own hours. To give customers time to buy and prepare their meat for sale the same day, the market opened at night.
Is Smithfield meat market to close for good after relocation plans voted down?
Smithfield meat market to close for good after relocation plans voted down. London's historic Smithfield meat market is to close for good after the City of London Corporation voted to pull out of plans to relocate it and Billingsgate fish market to Dagenham.
As the largest wholesale meat market in the UK and one of the largest in Europe, Smithfield Market is a cornerstone of London's culinary scene and a must-visit destination for food enthusiasts.
Is London's Smithfield market set to close after 900 years?
The announcement by the City of London Corporation in November that Smithfield market is to close after almost 900 years of trading has been met with surprise and dismay. Many Londoners fear Smithfield's special sense of place will be lost for good as a result.
Then known as Shuanghui Group, WH Group purchased Smithfield Foods in 2013 for $4.72 billion. It was the largest Chinese acquisition of an American company to date.
The City Guides run walking tours of Smithfield for members of the public on a monthly basis. Hear how Smithfield meat market has changed throughout its 800 year history and experience its working life first-hand on this special tour.
The City of London Corporation's Court of Common Council has attributed the decision to abandon relocation to high inflation and increasing construction costs that have made the switch unaffordable. The fish market's origins date back to the 1700s, making it the oldest fish market in the city.
Billingsgate's site near Canary Wharf is set to be transformed into some 4,000 new homes; meanwhile, Smithfield is set to be regenerated into a “cultural and commercial hub” to accompany the new London Museum, set to open next year in a once-abandoned section of the market.
The freehold owner of the site is the London Borough of Tower Hamlets, but the City of London Corporation still runs the market; they pay an annual ground rent stipulated in an agreement between the two councils as "the gift of one fish".
Smithfield market's owners, the City of London Corporation, had planned to relocate Smithfield and Canary Wharf's Billingsgate fish market to the east-end suburb, but on Tuesday the body's Court of Common Council voted to scrap the move, after a recommendation from the Square Mile's policy committee.
The decision to go public is expected to solidify Smithfield's position as a major player in the global food industry, while WH Group's divestment allows for streamlined operations and targeted growth initiatives for both entities.
Entry to the Christmas Market is free of charge while for certain attractions such as the Ice Rink and Ice Museum, advance purchase of tickets is recommended via the website. Tickets for the Big Wheel are available on site. Find out more at www.christmasspectacular.ie.
Smithfield Market is one of the oldest markets in London, primarily known for livestock and meat trading. However, it is not specifically a cloth market. The oldest cloth market in London is generally considered to be the 'Cloth Fair' which was established in the 12th century. Therefore, the statement is false.
Did Smithfield Foods price its IPO below its market range?
The offering was priced at $20 per share, Smithfield said, below the $23-$27 per share range that would have raised as much as $939.6 million. Smithfield raised $260.9 million in the offering, while the rest was raised by the selling stockholder, a unit of its parent company WH Group (0288.HK) , opens new tab.
It has been confirmed that Dublin's Victorian fruit and veg market in Smithfield will finally reopen in 2026. The historic red brick building on Mary's Lane, between Capel Street and Smithfield, has remained empty since its closure in 2019 to facilitate redevelopment.
