Billingsgate & Smithfield Markets to Relocate to Royal Docks Newham

Key Points

• Billingsgate and Smithfield markets, historic wholesale sites, could relocate to a new site on Albert Island in east London’s Royal Docks as part of a fresh proposal.
• The move has gained support from Billingsgate and Smithfield market traders, the City of London Corporation, and the Greater London Authority (GLA).
• Early proposals pinpoint Royal Docks in Newham as the preferred location, with plans first outlined in December 2024, though no developer has been appointed yet.
• Relocation hinges on a Parliamentary Bill to cease operations at current sites and planning permission from Newham Borough Council.
• Royal Docks, owned by the GLA, holds planning consent for about 750,000 sq ft of development and a new boatyard; it is London’s only Enterprise Zone offering tax breaks and incentives, within the Royal Docks and Beckton Riverside Opportunity Area.
• The Royal Docks Team, a joint initiative between the mayors of London and Newham, projects £750m in local expenditure, over 2,200 jobs, and £130m gross value added to Newham, plus wider UK economic benefits over 30 years.
• Last year, City of London Corporation members rejected a proposal to move the markets to Dagenham.
• Current sites face tighter traffic controls, rising congestion, and constraints like Smithfield’s Grade II* listed status, preventing trader growth; most traders back the relocation.
• Nearly all traders from both markets agree to move, with others planning to transfer businesses, ensuring 100% trade continuity.
• Markets will operate at Billingsgate and Smithfield until at least 2028, pending Parliamentary Bill approval, before transitioning.
• Post-relocation, sites will be renamed New Billingsgate and New Smithfield.
• Chris Hayward, policy chairman of the City of London Corporation, highlighted economic growth potential, new jobs, and homes from redeveloping current sites, calling it progress and a win-win.

INVERTED PYRAMID NEWS STORY

Historic Billingsgate and Smithfield wholesale markets face potential relocation to Royal Docks in Newham, east London, under new proposals welcomed by traders and authorities. The move to Albert Island aims to address site constraints amid growing support from the City of London Corporation and Greater London Authority (GLA). Operations at current sites would continue until at least 2028, subject to Parliamentary approval.

What Is the Proposed Relocation Plan for Billingsgate and Smithfield Markets?

Plans target a site on Albert Island within Royal Docks, identified as the preferred location in early proposals. These follow initial outlines set in December 2024 to find new sites within the M25, though a developer remains unappointed. As detailed in coverage by the original reporting team, the relocation forms part of broader regeneration efforts in the area.

The Royal Docks, owned by the GLA, already boasts planning consent for approximately 750,000 sq ft of development and a new boatyard for London. It stands as London’s sole Enterprise Zone, delivering tax breaks and business incentives, and lies within the Royal Docks and Beckton Riverside Opportunity Area—one of the capital’s largest regeneration zones. Image reference: Vistry Group, as noted in initial reports.

Why Have Billingsgate and Smithfield Traders Backed the Royal Docks Move?

Billingsgate and Smithfield market traders have welcomed the proposal, with the majority unable to expand due to tighter traffic controls, increasing congestion, and site constraints such as Smithfield’s Grade II* listed status. Most traders from both markets have agreed to relocate, while remaining ones intend to transfer businesses to others, guaranteeing 100% trade continuity. This broad backing underscores the impracticalities of current locations.

Last year, the City of London Corporation’s elected members voted against relocating to Dagenham, paving the way for Royal Docks consideration. The markets will persist at Billingsgate and Smithfield until at least 2028, ahead of transition to the new site, contingent on the Parliamentary Bill’s passage. Following relocation, they will operate as New Billingsgate and New Smithfield, respectively.

What Economic Benefits Does the Royal Docks Relocation Promise?

According to the Royal Docks Team—a joint initiative between the mayors of London and Newham—the shift would generate an estimated £750m in local expenditure, more than 2,200 jobs, and £130m gross value added to Newham, alongside further benefits to the wider UK economy over 30 years. Redeveloping the current market sites promises billions in economic growth, thousands of new jobs, and thousands of new homes, as emphasised in official statements.

Chris Hayward, policy chairman of the City of London Corporation, said:

“Redeveloping the current market sites will contribute billions of pounds in economic growth, thousands of new jobs and thousands of new homes. There’s a lot more to do – and a developer to be agreed – but this is undeniable progress. We are excited for the future, and by ushering in a new era for these historic markets, we’re creating a win-win for traders and Londoners.”​

What Approvals Are Required for the Markets’ Move to Royal Docks?

The relocation depends on the successful passage of a Parliamentary Bill to enable cessation at current Billingsgate and Smithfield sites. Planning permission from Newham Borough Council will also prove essential for operations at Royal Docks. These steps follow the City of London Corporation’s oversight, with the GLA managing the destination site.

The proposal enjoys endorsement from the City of London Corporation and GLA, building on trader support. No developer appointment has occurred yet, signalling ongoing progress amid these hurdles.

How Does This Fit into Broader London Regeneration Efforts?

Royal Docks forms a key regeneration hub, with its Enterprise Zone status enhancing business viability for the markets. The Beckton Riverside Opportunity Area amplifies potential for large-scale development. This aligns with December 2024 commitments to secure M25-adjacent sites, rejecting prior Dagenham options.

Traders’ growth limitations at heritage-constrained locations like Smithfield drive urgency, positioning Royal Docks as a modern solution. The joint mayoral initiative underscores collaborative governance in unlocking economic value.

What Challenges Have Current Market Sites Faced?

Smithfield’s Grade II* listed status exemplifies heritage barriers, compounded by traffic restrictions and congestion halting expansion. Billingsgate shares similar operational squeezes, prompting trader consensus for change. These factors explain the shift away from Dagenham after last year’s rejection.

Ensuring seamless trade transfer remains paramount, with full trader commitment averting disruptions. Continuity until 2028 provides transition stability.

Who Are the Key Stakeholders Supporting the Proposal?

Market traders lead endorsements, alongside the City of London Corporation and GLA. The Royal Docks Team coordinates economic projections, while Newham Borough Council holds planning sway. Chris Hayward’s leadership highlights policy alignment.

Vistry Group imagery illustrates the site’s potential, reinforcing visual appeal in reports. Parliamentary processes engage national oversight.