New site near Thames planned for historic markets

"The City of London Corporation - which currently operates the centuries-old meat and fish markets - said it was working with the Greater London Authority and Newham Council on the "exciting " proposals. to turn Smithfield Market's current site in the City of London into cultural space and to use Billingsgate Market's site at Poplar, east London for new homes."

"The governing body's chairman Chris Hayward, said "progress" has been made. "By following through on our commitment to support Traders to relocate, and to ensure our plans for new housing and culture at the vacated sites come to fruition, we are laying the foundations of future economic growth across the Square Mile, London and the UK." Greg Lawrence, Chairman of Smithfield Markets Traders' Association, said this was a "significant step forward". "We're now all keen to get cracking with the next steps," Mr Lawrence said."

Plans propose relocating Smithfield and Billingsgate markets to a new shared site at Albert Island near London City Airport on land earmarked for regeneration. The move is estimated to generate about 750m in local expenditure and create more than 2,200 jobs. The City of London Corporation is working with the Greater London Authority, Newham Council and market traders on the proposal, after earlier plans to move to Dagenham were abandoned. Most traders have agreed to relocate together. Current market operations will continue until at least 2028, and agreements with London and Newham mayors have been signed to progress the plan.

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