Smithfield meat Market to close after 800 years - everything we know so far

After more than 800 years of trading, London’s iconic Smithfield Market, the oldest wholesale meat market in the UK, is set to close.

Located in the City of London, it has been a central hub for meat trading for centuries.

Billingsgate fish market, another medieval market in London, is also set to close for good, following refusals to relocate.

Read more: London news

The City of London Corporation, which runs the markets, had long-standing plans to move them from their present homes to Dagenham.

However, a few weeks ago this was put under question when the corporation announced a pause. Last night (26 November 2024) it was announced the markets will instead close forever.

This decision came after abandoning the £1 billion relocation plan due to escalating costs.

The news sent shockwaves through the London press, making headlines in The Times, Evening Standard and The Guardian.

Thousands of jobs will be affected when the markets close, possibly as early as 2028, reports Londonist.

Reportedly The City has put aside £300 million by way of compensation for the traders.

History of Smithfield Market

Smithfield’s originates back to the 10th century, making it one of London's oldest markets.

Originally known as "Smoothfield," it was a large open space used for livestock trading. By the late Middle Ages, it had become the most famous livestock market in the country.

For centuries, the market has supplied fresh meat to butchers, restaurants, and retailers across the city, with trading often starting in the early hours of the morning.

What will happen to Smithfield Market?

The current market buildings, designed by architect Sir Horace Jones, were completed in 1868.

The Grade II listed structures feature a distinctive Victorian design, including the Grand Avenue, a wide roadway roofed by an elliptical arch with cast iron decorations.

The site is slated for a significant transformation into a cultural and mixed-use space, with proposals including the relocation of the Museum of London.

This redevelopment aims to preserve the market's heritage while adapting to contemporary needs.