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Plans for Billingsgate and Smithfield Market Relocation Halted
28 November 2024
Plans for a major regeneration programme at Dagenham Dock have been abandoned.
Smithfield and Billingsgate were set to be co-located for the first time at a new market at Dagenham Dock. The City of London Corporation has voted to end its interest in the move due to financial constraints. An official statement from the corporation reads: “Project costs have risen due to a number of external factors, including inflation and the increasing cost of construction which have made the move unaffordable.”
Market traders will be able to continue operating until 2028, and financial support will be provided to help them relocate to new premises.
Plans to create a new London Museum (formerly Museum of London) at the Smithfield site are unaffected.
Councillor Dominic Twomey, Leader of Barking and Dagenham Council, said: “While this is disappointing news, we understand the financial pressures that key investment projects are facing with soaring inflation in recent years. We are committed to continue working with the City of London Corporation to unlock the huge potential of the Dagenham Dock site to bring new employment uses and high quality jobs for local people.
Picture: a render showing the previously proposed new market from above. Image credit: Chetwoods for the City of London Corporation.
Article written by Ella Tansley | Published 28 November 2024
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