The City of London has voted to close the centuries-old Smithfield meat market, after scrapping a planned £800mn move because of cost overruns. The City of London Corporation, the local government for the business district, said on Tuesday the independent traders who sell meat at Smithfield — and fish at Billingsgate market — will receive “financial support” to relocate to new locations of their choosing.
The City said it would work with the local borough on an alternative use for the site that will “deliver regeneration and high-quality jobs for local people”. Closing the market will save the City hundreds of millions and free up a valuable site in central London for redevelopment.
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London’s Smithfield Market 'set to close' after 900 years - after Dagenham move haltedLondon’s oldest meat market could close for good, with a crucial vote on its future due to take place today.
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London's Oldest Meat Market Faces Closure After Crucial VoteLondon's oldest meat market, Smithfield, could close permanently following a critical vote today. The City Corporation plans to relocate Smithfield and Billingsgate fish market to Dagenham, but due to cost overruns, the recommendation is now to shut down Smithfield and compensate traders with potential payments exceeding £300 million.
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