New site near Thames planned for historic markets

Smithfield is the largest wholesale meat market in the UK

The historic Smithfield and Billingsgate markets could move to new site at the Royal Docks in east London, under new plans.

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.

Securing the future of the markets would, the corporation said, protect food security for London and the South East, as well as jobs in ports across the UK.

Billingsgate Fish Market once operated on the banks of the Thames

Under the proposal, both markets would operate from a new site at Albert Island, just east of London City Airport, on land earmarked for wider regeneration.

It is estimated that the move could generate about £750m in local expenditure and more than 2,200 jobs.

The proposal follows plans to move the markets to Dagenham, which were abandoned last year.

The City of London Corporation said it had since been working with market traders to identify new sites for the businesses.

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.

Most traders from both markets have agreed to move together to a new site, although the current markets will stay open until at least 2028, the City of London Corporation said.

It added that it had signed an agreement with the mayor of London and mayor of Newham to work on the proposal.

However, the move is subject to the introduction of an Act of Parliament allowing the closure of the existing markets and will require planning permission from Newham Council.

The markets will move to a site at the Royal Docks, under new plans

Smithfield is the largest wholesale meat market in the UK and one of the biggest in Europe.

The current iteration of the market has been trading at the site since the 1860s. Prior to that it was a livestock market, which dated back to the medieval period.

Work has already begun on turning this site into a new cultural and commercial hub, which includes the new London Museum.

Billingsgate is the largest inland fish market in the UK, with an average of 25,000 tonnes of fish and fish products sold there every year.

The original market first traded in Lower Thames Street in the City in 1327, before moving to its current site in 1982.

It provides fish to businesses including fishmongers, fish-and-chip shops, delicatessens and restaurants.