£1bn plan to move Billingsgate and Smithfield east
The City of London Corporation has approved plans to proceed with a £1bn regeneration plan to move London’s historic wholesale markets to a purpose-built site in Dagenham Dock.
The City of London Corporation said that it was ready to spend nearly £1bn to regenerate 42 acres of industrial land in Dagenham into a wholesale food market, to replace both the Billingsgate fish market and the Smithfield meat market. Smithfield has been in Farringdon in the City for nearly 150 years while Billingsgate moved from the City to Canary Wharf in 1982.
"This is a major milestone in an ambitious programme with economic growth at its heart"Chris Hayward
Chairman of the City of London Corporation’s policy and resources committee
The City of London Corporation has appointed Gardiner & Theobald as cost consultants for the purpose-built wholesale market facility.
The City of London Corporation said that relocating Smithfield Market “offers the opportunity to reinvigorate an historic part of the Square Mile, preserving and opening up the listed buildings for the public to enjoy”.
If the plans proceed, the Smithfield site will become home to the new London Museum, while the land at Canary Wharf that will be unlocked by relocating Billingsgate could provide around 2,000 new homes, it said.
Chairman of the City of London Corporation’s policy and resources committee, Chris Hayward, said: “This is a major milestone in an ambitious programme with economic growth at its heart – something our country so clearly needs. Our investment in delivering modern, environmentally-sustainable wholesale markets in Barking and Dagenham will boost the economy across east London, supporting jobs, skills and training."
G&T partner Philip Saunders commented: "G&T originally supported The City of London Corporation in 2018 with the site purchase and has since cost managed the demolition of the old power station, removal of nine overhead power pylons and the procurement of the Cooling Water Tunnels decommissioning works. Having worked with the City of London Corporation on the feasibility options for the New Markets Consolidation, G&T is very excited that the Private Bill is being submitted and that the detailed design of the two markets is now commencing."
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Image: Courtesy of Chetwoods