Famous market in London shutting down after almost 8 centuries.

The future of Smithfield market, a historic meat market in London, is uncertain. The City of London Corporation, which has been in charge of running the market since 1327, had plans to relocate it and the Billingsgate fish market to a new development in Dagenham. However, due to recent events, those plans have been put on hold. Today, the corporation is holding a private vote to decide whether to continue running the markets or to withdraw from the sites altogether.

It is rare for the Court of Common Council to go against recommendations, so if they do choose to withdraw, the corporation will present a bill in parliament to officially end their responsibility for the market. As for the meat traders at Smithfield, the corporation has promised a significant compensation package, with reports suggesting it could be worth over £300 million.

Smithfield market has a long history, dating back more than 800 years. The current market site was built in 1868, with the same architect behind the redevelopment of Billingsgate in the 19th century. However, in 1982, the UK's largest inland fish market was relocated to its current site in Canary Wharf. The City of London Corporation remains in charge of the site and pays ground rent. There are also plans to redevelop the Billingsgate site into a mixed-use housing scheme.

The closure of the market would mark the end of an era for London. It has been a bustling hub of activity for centuries, drawing in crowds from all over the city. However, with the changing times and the rise of modern developments, it seems that the market's days may be numbered.

As for the City of London Corporation, they have yet to make a formal statement on the matter. In the meantime, Londoners can stay updated on the latest news from the capital by visiting Metro's London news hub. From delays on the Elizabeth line to the possibility of a new Tube line in South East London, there is always something happening in this vibrant and ever-evolving city.

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