Historic London markets set for mixed-use move to Royal Docks

Plans to relocate two of London’s oldest wholesale markets—Billingsgate and Smithfield—to a shared site in the Royal Docks have taken a major step forward with the identification of Albert Island in Newham as the preferred location.

The proposed move, led by the City of London Corporation and supported by the Greater London Authority (GLA), aligns with broader ambitions to regenerate the Royal Docks into a thriving mixed-use area. The site, which already has planning consent for around 750,000 square feet of development, is part of London’s only Enterprise Zone and sits within the Royal Docks & Beckton Riverside Opportunity Area.

If approved, the relocation would see the markets operate from a consolidated new base—New Billingsgate and New Smithfield—by 2028, subject to Parliamentary consent and local planning approval. In addition to market operations, the scheme includes space for a new boatyard and is expected to catalyse wider commercial, educational, and community development in the area.

The project is estimated to generate approximately £750 million in local economic activity, support over 2,200 jobs in Newham, and deliver £130 million in gross value added (GVA). Nationally, the economic impact is forecast to more than double over the next 30 years.

As part of the move, a new onsite food school will be established, offering training and education for future butchers, fishmongers, and fruiterers. This builds on existing programmes such as the Smithfield Apprenticeship Scheme and the Billingsgate Seafood Training School, aimed at equipping young people with food sector skills.

Policy Chairman of the City of London Corporation, Chris Hayward, said the move supports both the continued growth of the markets and the release of their current central London sites for future housing and cultural development.

“Redeveloping the current market sites will contribute billions in economic growth, thousands of new jobs and homes,” Hayward said. “This is undeniable progress for both traders and Londoners.”

Traders have been closely involved in the relocation discussions, with the majority supporting the joint move. Those not relocating plan to transfer their businesses, ensuring continuity of trade. Existing sites are constrained by traffic congestion and limited expansion opportunities, with Smithfield also operating from a Grade II* listed building.

The Royal Docks Team, a partnership between the Mayor of London and the Mayor of Newham, has worked with the City Corporation to assess the site’s potential. The project is expected to enhance the area’s appeal as a commercial and cultural destination while supporting food security and employment across the capital and the wider UK.

Deputy Mayor for Business and Growth, Howard Dawber, described the relocation as a key component of wider regeneration plans. “The Royal Docks is one of the most exciting regeneration projects in London,” he said, “and it is wonderful to have Billingsgate and Smithfield on board as a key part of our plans for the future.”

The markets will continue operating from their existing locations until at least 2028, giving time for construction and transition planning.