Smithfield Market Tenants’ Association (SMTA), London Fish Merchants’ Association (LFMA) and the Corporation have today (Monday 23 December) released joint statements marking progress in finding new sites for Traders.
The SMTA represent the Traders at Smithfield Market, and LFMA represent the Traders at Billingsgate.
The SMTA joint statement with the Corporation highlights that the majority of Traders intend to move to a site inside the M25, with Traders who are not moving transferring their business to other Traders, ensuring that 100% of trade continues and there is no impact to the supply chain. This joint move demonstrates progress and shows how the Corporation continues to support Traders, with Smithfield Market remaining open and operating as normal until at least 2028.
The Corporation is also supporting the annual meat auction taking place tomorrow on Christmas Eve (see Notes to Editors).
Separately, the LFMA also today confirmed that 90% of Billingsgate Traders have indicated that they will continue trading when operations cease at the current site.
Chris Hayward, Corporation Policy Chairman, said:
“The progress we’re announcing today demonstrates our commitment to helping Traders grow and operate sustainably and successfully for many more generations to come.
“Presently, there is no space for Traders to expand, and our collaboration represents the best possible outcome for Traders and the City.
“Our priority for these sites is to transform these areas, creating a new cultural destination, delivering additional housing, creating more jobs and spurring economic growth, contributing to the Government’s number one priority.”
Full text of joint statement from SMTA/ Corporation
The Corporation and the Smithfield Market Tenants’ Association (SMTA) – run by and for the Traders – have been working together for some time now on the future of wholesale meat provision to London and the South-East.
It has become apparent in recent years that the location of the Meat Market is no longer viable due to road closures and unacceptable traffic congestion around the existing site. In addition, the Grade II* listed buildings offer no scope for the Traders’ businesses to physically expand and grow.
As a result, both parties have agreed a compensation package that financially supports the Traders to relocate to new premises.
For our part, we at the SMTA have today confirmed that 70% of us intend to come together to collectively move to a new facility within the M25. We have also confirmed that all the current business will transfer to the new market any businesses who do not wish to re-locate will transfer their trade to other Smithfield Traders. The supply chain will therefore not be impacted by the move.
The new facility will enable this critical mass of Traders to expand and modernise our businesses, as well as support the meat traders of the future. The creation of a ‘New Smithfield’ will also ensure that the meat which passes through the current market site will continue to serve London and the South-East.
The timing of the construction of the new facility dovetails with the SMTA’s move from Smithfield in 2028/9, and there will therefore be minimal disruption to our supply chains during the transition period.
For our part, the City Corporation will continue to work proactively with the SMTA to support a smooth transition.
Full text of LFMA/ Corporation joint statement
The London Fish Merchants’ Association (LFMA), representing the Billingsgate Traders, and the Corporation (CoLC), have been working together for some time now on the future of wholesale fish provision to London and the South-East.
That joint work includes identifying potential new premises for the Traders, where CoLC will no longer be landlord, and where the businesses can expand. The Market will continue trading from the current site for at least the next three to four years. The LFMA today confirmed that 90% of Billingsgate Traders have indicated that they will continue trading when market operations cease at the current site and therefore there will be minimal to no impact on the supply chain.
The LFMA and the CoLC have agreed a package of financial support that will enable Billingsgate Traders to move to new facilities and are confident that the Traders will continue to serve the whole of London and the South-East and that they will continue to thrive and prosper.
ENDS
Notes to Editors
Press release following the Court of Common Council decision in November: Corporation ends markets’ move to Dagenham as traders decide their next move
For further information contact Mark Mistry on 07762502081 or email mark.mistry@cityoflondon.gov.uk
About the Corporation:
The Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally successful UK –
';
