The City of London Corporation has launched a strategic review into the future of Smithfield, EC1 (pictured), Billingsgate, E14, and New Spitalfields, E10, markets.
The review, which comes after repeated failed attempts to release the markets for regeneration, is expected to take two years, with an initial report due by the end of 2016.
City of London common councilman Patrick Streeter, a member of the markets committee, said this was a “ridiculous timescale” and called for an earlier publication date.
Streeter has proposed relocating Billingsgate and Smithfield to a site next to the New Spitalfields Market in Leyton, E10.
He said that the sale of Billingsgate in Canary Wharf would subsidise the redevelopment of Smithfield, which is more challenging as a development because of its Grade II listing.
Streeter said: “Any developer with ideas on how this might be achieved should declare his interest.”
In 2006, London mayor Ken Livingstone commissioned a review into consolidating the markets with New Covent Garden, New Spitalfields and Western International in Hounslow, west London, but no further action was taken.
In March last year it was confirmed that the Museum of London would move to the derelict part of Smithfield after the site was sold back to the City Corporation by TH Real Estate for £35m. The developer’s £160m plans to convert Smithfield into a mixed-use leisure scheme were blocked by the government owing to their detrimental impact on the history of the site.
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