London’s iconic meat and fish market, which has served the community for 900 years, will face closure in 2028.
Smithfield Meat Market, located near St. Paul’s Cathedral, and Billingsgate Fish Market in Canary Wharf have been labelled iconic London landmarks. They are a part of British history and culture and have served the community for 900 years. But after all this time, their servitude to the community will end.
The City of London Corporation has announced the historic fish and meat market will be closing. This is due to their decision to withdraw their support and vote ultimately on closure.
The corporation owns and operates the central London site of the centuries-old market. Originally, they had plans to relocate the market to a new site in Dagenham, east London. The site is worth £1 billion.
The decision to close the markets and offer traders compensation was made by the Corporation’s Court of Common Council.
The corporation will now have to file a private bill in Parliament as it seeks to absolve itself of the legal responsibility of running the markets.
It said traders would be able to continue their operations at the markets until at least 2028.
But after reviewing the “financial sustainability” of the relocation, the court of common (which is the main decision-making body for the corporation) made their decision. They voted to pull out of running the sites.
The Market History
Smithfield is the largest wholesale meat market in the UK. Additionally, it is one of the biggest in Europe. Located in London, it is one of the city’s oldest and most iconic markets. Dated back to the mediaeval period, it became an official livestock market in 1327 under the reign of Edward III.
But health concerns regarding the hygiene and overcrowding led to its closure. But through this was the birth of Smithfield Meat Market in 1868. The market was designed by Horace Jones.
The market has witnessed several historical events, including surviving the damage of World War 2. This has allowed the market to have a significant legacy and a landmark of British history and culture.
Billingsgate Market is the largest inland fish market in the UK and one of London’s oldest markets. It initially originated in the mediaeval period on Lower Thames treet. By royal decree, it became London’s main fish market by royal decree in 1699. During the 19th century, it underwent expansion with a Victorian-era redesign by Horace Jones. But it was facing issues at the original location due to spacing and traffic. This prompted its move to Canary Wharf in 1982, where it has operated since.
The market sells, on average, 25,000 tonnes of fish and related seafood products every year. Additionally, it provides fish to businesses across the countries. This includes fishmongers, fish-and-chip shops, delicatessens, and restaurants.
But their long-standing history will come to an end.
The future of the market
Plans are already being discussed to turn the Smithfield site into a mixed-use cultural development alongside the London Museum. Additionally, proposals have been put out there to transform the current Billingsgate site for a mixed-use housing scheme.
When making the announcement, the corporation promised to provide financial compensation to market traders. They will be allowed to continue business at the market until at least 2028. The Times has reported that compensation could come to a total cost of £300 million.
Moreover, the corporation is committed to working with the market traders, “actively supporting them” in “identifying suitable new sites.”
“The corporation’s decision reflects a careful balance between respecting the history of Smithfield and Billingsgate markets and managing resources for this project responsibly.”
“Numerous external factors, including inflation and rise in cost of construction, have made the plan of moving unaffordable.” The plan was to move both markers, as well as New Spitalfields in Leyton, to a £1bn site in Dagenham. But the corporation scrapped those plans after already spending £308m purchasing and maintaining the site.
As both markets are governed by acts of parliament, which fix the market to their existing sites, impose specific rights, and place restrictions and obligations regarding the use of the land. Thus a bill will be required to repeal that legislation and grant permission for the land to be used for other purposes.
Conclusion
Whilst a monument of British history is coming to an end, we celebrate 900 years of service. So sad is it, we look back at the market as an essential part of history.
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