City Corporation gets approval for major markets move
The City of London Corporation has gained outline planning consent to move its Smithfield, Billingsgate and New Spitalfields markets to a merged site at Dagenham Dock in east London.
Outline plans to co-locate the markets were approved by the London Borough of Barking and Dagenham last night.
It marks a step forward for the City of London’s proposals. A private bill is required for the move, which will be submitted to parliament later this year.
The City of London Corporation has gained outline planning consent to move its Smithfield, Billingsgate and New Spitalfields markets to a merged site at Dagenham Dock in east London.
Outline plans to co-locate the markets were approved by the London Borough of Barking and Dagenham last night.
It marks a step forward for the City of London’s proposals. A private bill is required for the move, which will be submitted to parliament later this year.
If plans proceed, the new markets are expected to open by 2027 at the earliest. The move would release the three existing sites for redevelopment.
Catherine McGuinness, policy chair at the City of London Corporation, said: “At a time when the wholesale food sector has been severely impacted by the pandemic, this outline planning approval will provide a welcome boost for the capital and the wider UK supply chain.
“This is a once-in-a-generation opportunity to create one of Europe’s biggest wholesale market destinations, delivering thousands of new jobs and worth billions of pounds to the UK economy.”
She added: “We are confident that these plans will give our markets and traders the modern facilities they need to thrive and grow, delivering significant benefits for future generations.”
Darren Rodwell, leader of Barking and Dagenham Council, said: “This is yet more great news for the borough. The move will bring jobs as well as new training opportunities as part of our plans to establish a food school locally.”
Deloitte Real Estate is the strategic property adviser to the City of London Corporation.
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Photo © City of London Corporation
