London’s Historic Smithfield Market to Close After 1,000 Years

The City of London Corporation confirms closure plans without a unified replacement, leaving traders to relocate independently.

Smithfield Market, a central part of London’s history since the 10th century, will permanently close as the City of London Corporation halts plans for a new integrated market in Dagenham due to rising costs.
Traders will receive £300 million in compensation to find new premises, but no single replacement site will be developed, effectively scattering the market’s operations across the city’s outskirts.
The closure reflects shifting consumer habits, including reduced meat consumption, logistical challenges, and increasing urban development pressures in central London.
The iconic Grade II-listed market buildings, designed by Horace Jones, will remain but may be repurposed as part of the City’s cultural redevelopment plans, potentially including retail and entertainment spaces.
Critics and traders express concerns about losing a unique historical and cultural landmark, drawing comparisons to the controversial redevelopment of Paris’s Les Halles in the 1970s.