Why is Smithfield Market in London closing?

Smithfield Market in London is closing—with operations expected to cease around 2028—primarily because its historic, central location is deemed outdated, inefficient, and unsuitable for modern, hygienic, and sustainable logistics. The City of London Corporation is closing the site to repurpose the area into a cultural and commercial hub.

What happened to Smithfield Market in London?

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.

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.

Where is Spitalfields market moving to?

What is planned for the site? The City of London Corporation has decided to combine the location of all three of its wholesale markets. This includes Billingsgate, New Spitalfields, and Smithfield Market. They will be moved to a site at Dagenham Dock.

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

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.

Where are Londoners moving to in 2025?

In 2025, 68% of London leavers stayed in the South of England (South East, South West or East of England) – the highest proportion since 2021 and up from 62% in 2024. This marks a reversal of the pandemic and then affordability-led trend that pushed buyers further into the Midlands and North.

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.

Who owns Smithfield Market London?

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.

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 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.

Can the public buy at 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. 

What is the oldest shop in London?

A Visit To London's Oldest Shop: Lock And Co Hatters. I recently paid a visit to one of London's most iconic shops: Lock and Co Hatters in St James's. It is considered to be the oldest shop in London, but also is said to be the oldest hat shop in the world and is, amazingly, still run by the same family today.

Why is Smithfield closing?

London's historic Smithfield and Billingsgate markets are set to shut after the City of London Corporation voted to withdraw support for them, bringing down the curtain on two establishments that have been part of London life for the best part of a millennium.

Why has Lincoln Christmas Market been cancelled?

Lincoln Christmas Market was axed in 2023 by the city's Labour-led council due to concerns about overcrowding. The Conservative opposition proposed a £190,000 increase to City of Council's budget to fund the market's return.

Who bought out Smithfield?

Smithfield's Chinese Ownership, Explained

But in 2013, WH Group, formerly known as Shuanghui International Holding Limited, one of China's largest meat producers, purchased Smithfield outright for $4.7 billion.

How much is Westfield Shepherd's Bush worth?

Europe's biggest inner-city retail centre, Westfield London is a brand new £1.7bn shopping mall in Shepherd's Bush, west London.

What will happen to Smithfield?

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 worth visiting?

With over eight centuries of history as a livestock market, its architectural beauty and historical significance make it a must-see landmark. Visitors can explore the market's role in London's evolution, gaining insights into the city's past while observing its vibrant present-day operations.

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.

Where do rich Londoners live?

Knightsbridge. Wealthy places in London don't come much wealthier than Knightsbridge. Period townhouses and cute mews set along cobbled streets jostle for attention with lavish new developments, including The Knightsbridge Apartments and One Hyde Park.