Overview
- City of London Corporation, the GLA and trader representatives selected Albert Island in the Royal Docks as the preferred location, keeping the markets inside the M25 near London City airport.
- The relocation is targeted for 2028, with traders set to continue operating at the current Smithfield and Billingsgate sites until at least that date.
- Progress depends on Parliament passing a private bill to end operations at the existing sites plus consent from Newham Council for the new site.
- The fresh plan follows the abandonment of a proposed move to Dagenham last year because of spiralling costs.
- Officials cite projected benefits of about £750m in local spending, roughly 2,200 jobs and a £130m boost to Newham, with the site to include a new food school and the markets rebranded as New Smithfield and New Billingsgate.