Billingsgate fish market – which is the oldest fish market in the U.K. capital of London and what was once the world’s largest fish market – is set to close in 2028 after the City of London Corporation recently decided to withdraw its support.
However, thanks to “a historic agreement” reached to relocate the operations, the 25,000 metric tons (MT) of fish and shellfish that are still sold annually from the iconic market’s current location should be minimally affected.
Initially, the City of London Corporation planned to move the markets of both Billingsgate and the nearby Smithfield meat market to a GBP 1 billion (USD 1.3 billion, EUR 1.2 billion) purpose-built site in Dagenham on the outskirts of London.
This plan was dropped in November 2024 over cost concerns, so instead, the corporation reached an agreement that will support the market’s traders in finding new sites for their wholesale activities within the M25 motorway that encircles most of Greater London, City of London Corporation Policy Chairman Chris Hayward told SeafoodSource.
Hayward said the agreement is the outcome of a long process of consultation with the traders and other key stakeholders and that it reflects the strong desire among traders to relocate to modern, fit-for-purpose facilities that enable them to scale their businesses.
“The traders are proactively shaping the future of their businesses, receiving support to move to more suitable and sustainable facilities that address current challenges while unlocking growth opportunities,” he said, adding that by relocating to upgraded premises, the traders will “better position themselves in an increasingly competitive and regulated food supply environment.”
A February 2025 study commissioned by the City of London Corporation found the move will have a minimal impact on food supply in London and Southeast England and that relocating could, in the long term, result in improved delivery times, access for suppliers, and lower costs...
