Why has Smithfield Market closed?

Smithfield Market is closing, with operations expected to cease by 2028, because the City of London Corporation withdrew support for the site after abandoning a £1bn, 850-year-old market relocation project to Dagenham due to soaring costs. The historic site is being repurposed for a new cultural hub, including the Museum of London.

Why is the Smithfield Market closing down?

In a surprising turn of events, the world-famous meat and fish markets might not actually be closing down for good. Phew. The City of London Corporation voted to withdraw its support for the 850-year-old markets in November 2024, meaning they would have to shut forever by 2028.

What is happening at Smithfield Market?

The City of London Corporation has been looking at relocating the Smithfield and Billingsgate markets for some years. Smithfield Market is set to become a new cultural and commercial centre, with the new Museum of London already under construction in the old General and Poultry market buildings.

Is Smithfield and Billingsgate historic London markets to close after 800 years?

London's Smithfield meat market is set to close after more than 800 years, with trading expected to cease for good after 2028. The City of London Corporation, which runs the site, said on Tuesday its council voted to stop operating Smithfield and Billingsgate fish market.

Why is Smithfield Market only open at night?

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.

Historic London Markets To Close: Smithfield & Billingsgate Could Shut After Centuries Of Trading

Can anyone buy from Smithfield Market?

Yes, absolutely! Anyone can shop at London's historic Smithfield Market (and Manchester's New Smithfield Market), not just trade buyers like restaurants and butchers, but the general public can buy meat, poultry, fish, and produce, often at better prices, though you'll usually need to buy in bulk and be prepared for an early start. 

Is it worth going to Smithfield Market?

Smithfield- a must-do experience

Fascinating experience but not for the faint hearted. Definitely worth seeing at 3-4am at its busiest. Go with a clear idea of what you want to buy as the choice & quantities are overwhelming. Vendors can be abrupt- avoid no.

What is the 3 5 7 rule in day trading?

At its core, the 3-5-7 rule sets three clear boundaries: 3%: The maximum amount of your trading capital you should risk on any single trade. 5%: The total amount of capital you should have exposed across all open trades at any given time. 7%: The minimum profit you should aim to make on your winning trades.

Why are they shutting the billingsgate market?

Jason Holland. Billingsgate fish market – which is the oldest fish market in the U.K. capital of London and what was once the world's largest fish market – is set to close in 2028 after the City of London Corporation recently decided to withdraw its support.

What is the oldest market town in the UK?

Archaeological evidence suggests that Colchester is England's oldest recorded market town, dating to at least the time of the Roman occupation of Britain's southern regions. Another ancient market town is Cirencester, which held a market in late Roman Britain.

What is the most famous food market in London?

Borough Market: The Most Famous for a Reason

One of London's culinary cornerstones, Borough Market has withstood the test of time, having existed in the heart of Southwark for centuries in some form or another.

When in 2026 will the London Museum open?

The new London Museum (formerly the Museum of London) is set to open in late 2026 at its new home in the historic Smithfield Market, with its main galleries in the Victorian General Market slated for this year, though some parts like the Poultry Market may open later in 2028. The museum's official website and recent articles point to a "towards the end of 2026" opening for the primary public spaces.
 

Where will the New Smithfield market be?

On December 3, 2025, Albert Island at the Royal Docks was announced as the new preferred site to co-locate Smithfield and Billingsgate Markets. These markets will become known as New Smithfield and New Billingsgate Markets.

Is Smithfield Market London still open?

But this experiential landscape can easily be disrupted. 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.

Are Smithfield and Billingsgate markets to close due to decreasing demand for meat and fish?

The corporation announced the permanent closure of London's historic Smithfield meat market and Billingsgate fish market in late 2024, when it pulled the plug on a planned £1bn relocation to a new sitein the east of the capital at Dagenham.

Why did Kellogg's close in London?

Cereal sales had declined, leading Kellogg to close its doors in London to the disappointment of many locals. By this time, the London operation was producing about 27 cereals, including classics like Corn Flakes, Frosted Flakes, Bran Buds, All Bran, Bran Flakes, and Raisin Bran.

What is the future of the Smithfield Market?

The markets will continue at Smithfield and Billingsgate until at least 2028, giving time for Traders to plan and smoothly transition to new sites, subject to the Bill being passed. The markets will be known as New Billingsgate and New Smithfield respectively once they relocate.

Is fish cheaper at Billingsgate?

Yes, fish is generally cheaper at London's Billingsgate Market, especially if you're buying in bulk (by the kilo or box) and are willing to get up early to shop, offering wholesale prices that beat many high street retailers, though some find prices similar to supermarkets for smaller quantities, with the main benefit being freshness and variety.

What is the 10am rule in trading?

Some traders follow something called the "10 a.m. rule." The stock market opens for trading at 9:30 a.m., and there's often a lot of trading between 9:30 a.m. and 10 a.m. Traders who follow the 10 a.m. rule think a stock's price trajectory is relatively set for the day by the end of that half-hour.

Who owns Smithfield Market?

When the plan was made public, in April 2019, excitement was expressed about the City of London Corporation, owner of the Smithfield meat market in Farringdon, Billingsgate fish market in Poplar and the New Spitalfields horticultural produce hub in Leyton, consolidating all three in one place.