The current plan to move Billingsgate Fish Market from its historic home in Poplar to Dagenham has been sunk

The plan to move Billingsgate Fish Market to build new homes has been axed over financial sustainability fears and an old law banning new markets within a day’s sheep drive from Romford Market in Havering.

The City of London’s plan to move our historic Billingsgate fish market in Poplar to a new purpose-built site in Dagenham with Smithfield’s market has been canned. 

Whilst the move has not been completely cancelled, the owners and managers—the City of London Corporation—have cancelled the initial plan to complete it. 

A spokesperson for the City said the scheme is being reviewed ‘in order to determine its next steps and to ensure the financial sustainability of the project.’

The relocation of the historic Billingsgate market along with Smithfield in Farringdon and their traders to Dagenham was announced in 2022 by the City as a ‘major regeneration programme’.

The land occupied by Billingsgate in Poplar was expected to be used to provide new homes.  Fish was first traded in the Billingsgate area during the 16th century and remains the country’s largest inland fish market.

A press release issued by the City of London Corporation following the scheme’s approval estimated the new market would bring 2,700 new jobs to Barking and Dagenham and generate around £14.5 billion for the UK economy by 2049. The Corporation would invest almost £1bn in the move.

Chair of Policy and Resources Deputy Chris Hayward said at the time: ‘Relocating our markets will help ease traffic and improve air quality in inner London, while unlocking land at Billingsgate for new housing.’

The plans faced trouble early on when Havering Council objected to the move based on a centuries-old law preventing markets being set up within a day’s sheep drive of its own Romford Market.

In a paper prepared for a Finance Committee meeting next week (November 12), Corporation officers however have written that the Court of Common Council, in effect the City’s Full Council, has confirmed the ‘cessation’ the current plan at Dagenham Dock and that other options are to be explored.

The officers continued: ‘The forecast reflects this, with total spend to date of £308m largely for site purchase and remediation work, and the remaining residual forecast covering up to December 2024 (£310m total), and hence showing a large underspend against the original agreed funding envelope. Once a new way forward is agreed, the forecast will be updated accordingly to reflect this.’

The only other information provided in the paper is that a report is expected back to the Court of Common Council this month, which will provide further insight into the programme’s financial forecasts.

The Local Democracy Reporting Service (LDRS) understands the ‘cessation’ of the move to Dagenham Dock will not impact the new London Museum.

The City has said the scheme is being reviewed to ensure it is financially sustainable. One person the LDRS spoke to however said the relocation has become unviable due to ongoing delays on the City’s behalf. Another said: ‘Everything the Corporation does you may as well drop the initial budget and times it by five.’

A City of London Corporation spokesperson said: ‘The proposed relocation of Smithfield Meat Market and Billingsgate Fish Market to Dagenham Dock has recently been reviewed in order to determine its next steps and to ensure the financial sustainability of the project.’

The City of London also owns New Spitalfields Market in Waltham Forest which was supposed to also relocate to Dagenham at a later date. 

London’s wholesale markets require consent from Parliament in order to be relocated. A Private Bill was deposited by the City in November 2022, though parliamentary records show it did not make it past the second reading in the House of Commons.

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