70% of current traders will make the move to Smithfield Market’s potential site for relocation in the Royal Docks, according to a City of London study – although plans are still to be confirmed.
The City of London Corporation established Albert Dock, Newham as a potential site for the historic meat market in December last year, after the 2024 City of London (Markets) Bill confirmed the closure of its current Farringdon location.
A developer is still to be agreed on, meaning that certain plans for the market – which runs from midnight to 7am – have not been elaborated on.
The report promises to “support traders in relocating at the end of their tenancy in 2028/9″, adding “there is strong evidence to suggest that the Traders hope to relocate together in the future”.
It states: “This report does not include an economic evaluation of the transitions, such as assessments of potential job loss, job creation or broader economic impacts.”
The current site of Smithfield Market is a Grade-II listed building erected in the 1860s and designed by Horace Walpole, the architect also responsible for Tower Bridge.
Since then, traders have been selling meat from the iron construction in Farringdon – before this, it was the site of a livestock market dating back to the Middle Ages.
Many of today’s wholesale traders have a decades-long history with the market and are family-owned businesses that have been passed through generations.
At the wholesale market’s peak in the 19th and 20th centuries, it was distributing around 500,000 tonnes of meat – today it handles around 100,000 tonnes.
The study outlines the current site’s “limited space, outdated infrastructure, and the need for greater compliance with evolving food safety standards”.
“New facilities will offer enhanced infrastructure, greater regulatory compliance, and imprived accessibility for both customers and suppliers,” it added.
Mayor of Newham, Rokhsana Fiaz OBE said: “The two markets would showcase the Royal Docks as one of the most exciting destinations in London as we play our part in driving London’s growth; and continue our Opportunity Newham for our local residents through creating new jobs.”
Despite reduced numbers of trading today, Smithfield still makes up for 8-10% of London’s meat consumption, but clients and traders alike are set to benefit from the relocation’s position outside of the congestion zone.
Talking about move’s predicted impact on traders, a member of the City of London Market Constabulary said: “It has not started yet, we are still waiting. It was said from the beginning that they are going to move and we are waiting for updates.”
Another member said that there remains a “question mark” over the time of the move, officially set to occur in 2028/29.
Cllr Ann Easter of the Royal Albert ward said: “ I gather that it may be a couple of years before the developer gets as far as applying for planning permission.”
The General Manager’s Office at Smithfield Market has been contacted for comment.
Featured image credit: Romilly Schulte
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