Historic London markets to close, ending Centuries-Old Traditions

Two of London’s most iconic markets, Billingsgate and Smithfield, will cease operations in the coming years, concluding traditions that date back to medieval times.

The City of London Corporation, which oversees these markets, announced plans on Wednesday to present a bill to Parliament relinquishing its responsibility for operating them. Billingsgate, renowned for fish, and Smithfield, synonymous with meat, have been staples of London commerce since the 11th century.

The decision follows the corporation’s move to abandon its proposed relocation of both markets to a new site in Dagenham, east of London. The project was deemed financially unsustainable, with costs ballooning to approximately £1 billion ($1.25 billion) due to inflation and rising construction expenses.

Instead of relocating, the corporation will offer financial compensation and guidance to market traders, allowing them to establish independent operations elsewhere in London. The markets will remain operational until at least 2028, giving traders time to make new arrangements.

“This decision represents a positive new chapter for Smithfield and Billingsgate Markets,” said Chris Hayward, policy chairman of the City of London Corporation. “By stepping back from direct market operations, we will help to create opportunities for these businesses to thrive independently.”

Traders are expected to relocate individually or in groups to new premises across London. While their new locations may offer modern facilities, they will lack the historic charm that has characterized the markets for centuries.

At Smithfield, traders traditionally begin work late at night, serving primarily the restaurant trade, and finish early in the morning. Nearby pubs, with special licenses, have catered to this unique schedule by opening during the early hours.

The origins of Billingsgate and Smithfield markets trace back to the early 11th century. Billingsgate predates William the Conqueror’s arrival in England, while Smithfield became a hub for trading livestock shortly after.

These markets have long been woven into the fabric of London life, though they were historically infamous for rowdy behavior and chaos. Charles Dickens referenced the conditions at Smithfield in his works, describing it as a place of “filth and mire.”

While modern regulations and rebuilds have vastly improved conditions, another significant renovation was looming. Smithfield’s Victorian-era buildings suffered a major fire in 1958, and Billingsgate, located in London Docklands since 1982, has seen its surroundings transform from derelict spaces to the gleaming skyscrapers of Canary Wharf.

The Billingsgate site is poised to accommodate 4,000 much-needed new homes, while the Smithfield location is set to become a cultural hub, housing the new London Museum. These changes signal a shift in the use of these historic sites, marking the end of their roles as commercial trading hubs.

As the markets prepare to close, their legacy remains a testament to London’s rich history and evolution over the centuries.