The future of Smithfield Market in London hangs in the balance after almost 800 years.
A vote in the City of London on Tuesday (November 26) may lead to the historic London meat market being closed forever.
Owner and operator, The City Corporation, had been pursuing £1billion plans to relocate Smithfield to Dagenham, east London, along with Billingsgate fish market in Canary Wharf.
But the corporation’s policy committee has recommended the Square Mile’s descision-making body, the Court of Common Council, scrap the relocation plan and close Smithfield.
Committee members propose offering the market’s traders compensation, according to The Times, which reports this could amount to more than £300million.
They also want a Bill tabled in Parliament to absolve the body of responsibility for operating Smithfield, which the corporation was granted the right to run by Edward III in 1327.
City of London wants to convert the site into a cultural hub linked to the Museum of London and build housing at the Billingsgate site.
Barristers who sit on the Court of Common Council have warned the vote may…
