Smithfield Market, London’s historic 900-year-old meat market, is closing by 2028 due to the City of London Corporation withdrawing support, driven by the cancellation of a £1bn relocation project in Dagenham. The decision follows escalating costs, with the current site being redeveloped into a cultural and commercial hub, including the new London Museum.
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.
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.
According to the City's press statement, "Most of the Traders from both markets have agreed to move together to a new site with the remaining intending to transfer their business to others, ensuring that 100% of trade will continue". The move would not happen before 2028.
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.
Historic London Markets To Close: Smithfield & Billingsgate Could Shut After Centuries Of Trading
Did Smithfield get bought out?
Smithfield Foods, Inc. Joseph W. Luter, Sr. Joseph W. Luter, Jr. Then known as Shuanghui Group, WH Group purchased Smithfield Foods in 2013 for $4.72 billion.
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.
Billingsgate and Smithfield markets are set to relocate to a new joint site on Albert Island in east London's Royal Docks, under plans unveiled by the City of London Corporation and the Greater London Authority.
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.
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.
The best days to buy fish are generally Thursday through Sunday, as these are the busiest days, meaning more turnover and wider variety, especially for specific types like Mahi-Mahi or whole fish, though Monday/Tuesday might be best for certain staples if deliveries are consistent, but always check with your fishmonger for local freshness. While the old rule was to avoid Mondays due to weekend delivery gaps, modern supply chains often make fresh fish available daily, so asking your fishmonger when it arrived is the best advice, regardless of the day.
The largest jumps in income were seen in Spitalfields, which saw a 45% rise in residents' pay, Aldgate, with a 29% increase, and Bethnal Green South, at 27%. All three are found in the borough of Tower Hamlets, which was found to be the most gentrified borough as it contains twelve of the 53 neighbourhoods.
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.
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.
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.
Last month we saw the first fully licenced bluefin tuna caught on a commercial vessel in Newlyn. The landed fish weighed in at 245 kg and made a sale price of over £14 per kilo a whopping total of over £3400! However, tuna catching is highly regulated, and rightly so.
Can the public go to the Billingsgate Fish Market?
Although it is a professional fish market, it's also open to the general public. The main trading floor boasts 98 stalls and 30 shops where you can find all kinds of fish and shellfish.
Borough Market has a history spanning over a millenium and is widely considered London's oldest retail and wholesale food market. It's been operating at its current site since 1756. With over 100 stalls covering about 4.5 acres, Borough Market is also one of the largest food markets in the capital.
