The value of Billingsgate:

London is set to become one of the only major cities in Europe without a centralised fish market.

Described as one of London’s ‘premier destinations for commerce’, 25,000 tonnes of fish pass through Billingsgate market each year. 

It is scheduled to close in 2028 after City of London announced their support for both the meat and fish markets, dating back 800 years, will end. 

Plans for a replacement purpose-built site in Dagenham have been shelved due to 'inflation and increasing costs of construction'.

Each trader instead, depending on the size of their operation, is set to receive compensation of up to £3m, to set up shop independently elsewhere. 

And 25,000 tonnes of fish and fish products will be redistributed around the capital, with consequences felt right down the supply chain. 

On top of this, many also feel that London’s immeasurables; history, community and the wisdom of family trade, will be affected.

Much of the history of this dock has already disappeared beneath aluminium and concrete, but hints remain.

The name 'Canary Wharf' is taken from the islands that supplied London with bananas, tomatoes and cucumbers via 19th century ships that docked here. 

There are also practical reasons to modernise fisheries in the capital.

England's other major fish markets have seen drastic change, most notably with the controversial ‘levelling up’ of Brixham Market in Devon. 

But where to draw the line between past, present and future remains the balancing act.

One of Billingsgate’s longest-serving porters, also known as Chris ‘Fish', explained how this unsung profession has safeguarded London’s quality of fish throughout modern history. 

He said: “When I was a young man, you got a job as a shop boy and you learnt about fish.

“You learnt the difference between lemon sole and plaice, dover sole and cod fillet, and how to identify them just by looking. 

“It sounds easy, but it’s not.” 

The portering system, he explained, goes back centuries, first established at London’s meat market, Smithfield, in the Middle Ages to guard against pilferage. 

He continued: “You learnt to look for good fish, quality fish, fish that shines.

“You learnt how to pack fish, look after it, store it properly, stack it, bind it, put it onto pallets, and transport it around.”

Only those that finished their three-year rite of passage as a shop boy could then become ‘licensed’ as a porter. 

Chris, like many others, was following family footsteps – two of his uncles were porters too. 

Any bad produce that got past the porters would then be picked up by The Fishmongers’ Company, one of London’s ancient livery companies. 

Chris recalled: “A guy used to walk around and say ‘you can’t have that on show’ or ‘that bass is too small, it’s not fit for man’s body’.

“And he’d put a red ‘C’ on it: Condemned.

“It was a safeguard that went on for hundreds of years, but now they just get away with it.”

The porters saw their licenses withdrawn by City of London in 2013, replacing centuries-old rights and working practices with cheaper casual labour. 

A bylaw dating back to 1876 was revoked meaning that a previously protected role with a minimum wage was now open to anyone for 'pittance'.

Through loyalty alone, many porters remained in post.

But this move was seen by many as a move towards cheap labour in place of skilled staff on a decent wage.

Chris added: “It takes years and years to learn these things and, in the sweep of a pen, they just want to do away with it.” 

He said that quality control is not what it was at Billingsgate, despite the efforts of still-standing porters from bygone generations.

He pointed out some salmon, to evidence his point, that he said had been 'thawed, refrozen, thawed and refrozen'. 

He said: “How someone hasn’t phoned up and said they’ve been ill from eating it, I don’t know.

“20 years ago, you wouldn’t have dared. They’d just have laughed at you.” 

According to another fishmonger, who also wanted to remain anonymous, the quality of fish in London post-2028 will only get worse. 

They said: “If people just disperse into random units, I don’t think there would be as strict regulation on the quality of the products.

“And that is potentially dangerous.”

Jason Budd, owner of FC Soper Fishmonger, said: “I’m not being funny, the fish trade isn't cheap.

“Everything – ice machines, cold rooms, units all run 24 hours a day. 

“There isn’t another trade where everything needs to be refrigerated at all times.” 

Jason has owned FC Soper for 42 years, while the shop itself has stood since 1897. 

He had hoped that his son would soon take over, but the cost of living crisis, gentrification and – more recently – uncertainty surrounding the markets has thrown the future of this centurion business into doubt. 

He said: “It’s uncertainty for everyone in the trade at the moment.

“You're getting electricity contracts but you can't plan ahead.

“I'm only taking a one year contract because I don’t know if I’ll be here in the future.

“My electricity finishes in April and then it’s going up by £700 a month.” 

He had also planned to buy a new refrigerated van as part of a move to expand supply from Billingsgate. 

He said: “How can you spend £50k on a van if you don't know there's going to be a market to get your stock from?” 

Private companies have begun to offer 'direct supply’ to fishmongers as they try to plan for life after Billingsgate. 

Jason explained: “Their prices were around 30% dearer than what I pay at the moment. 

“So imagine, if I had to put my prices up by 30%, my customers are going to say ‘no, I'm not paying it’. 

“And I don't blame them – why would you pay 30% more?” 

Many high-street fishmongers rely on the market for cold water produce that comes in from international waters. 

Things like squid, farmed prawns or halibut. 

Fish imported from abroad comprises 40% of the market’s overall tonnage. 

And ‘you-scratch-my-back’ systems of loyalty, where businesses help one another by selling leftover fish to their neighbouring stall, have long kept supply issues down. 

One trader, who decided to remain anonymous due to fears their compensation will be affected by talking to press, said: “Everyone works with each other. 

“Certain fish that I don't sell, I know I can go to other companies who’ll buy it. 

“And when they need me, I can deliver what they’re missing to their clients.” 

These centuries-old customs help to keep the price and supply of fish consistent. 

But with traders set to splinter around the capital, neighbours will no longer be on-hand to help in times of need. 

Worse still, they may now be competing for business. 

Jason continued: “It’s like one big family down there.

“Some merchants in the market – we meet up on holiday and it's a family thing.

“I've seen their kids grow up, they've seen mine grow up. 

“So, yeah, it's not just somewhere you go and buy your fish.” 

Another trader, who also decided to remain anonymous, took it further. 

He said: “This has kept a lot of us off the streets because it gives us a way of life.

“We’re working class people, we don’t know where we’ll end up. 

“Our life is coming to an end.” 

The value of community in London is harder to quantify than the price of fish. 

But these traders say the human cost incurred with the closure of Billingsgate, without a viable alternative, will be undeniable. 

As another trader said: “Some of them, the compensation they’re getting won’t even cover the amount they paid to get their spot and fix it up.”

Without enough capital to start their own shop, he predicted that 75% of traders will find themselves with nowhere to go. 

Brixham market in Devon, England’s highest turnover fish market, has changed beyond recognition since receiving £20m in ‘levelling up’ funds. 

The same anonymous fishmonger said: “The fishermen and people that I know are basically saying they're being squeezed out. 

“Like the rest of society, it just feels like things are moving more and more towards big companies owning everything.”

Far from the bustling seaside market of yesteryear, fish at Brixham is now auctioned online, with customers, even those buying internationally, given no incentive to come to the market in person. 

They acknowledged that, to some extent, this is progress. 

The Billingsgate community is not only enjoyed from the inside, but by all those that use it.

Local government reports on how best to capitalise on Billingsgate’s location states: “Billingsgate Market's strategic location and connectivity make it a prime candidate for a last-mile logistics hub.”

But what’s arguably lost is the hum of barter and banter, the smell of haddock breakfasts or the ecstatic sight of the market at its busy heights. 

They concluded: “It’s part of the vibrancy of London.

“It would just be such a shame if there is no longer a fish market.”

“It's part of the blandification of everything where, in the end, everything is just rubbish.”

Even Chris ‘Fish’, one of the market’s longest-serving members, would concede that Billingsgate is far from perfect. 

He said: “It's sad but, unfortunately, they've let it go too far.

“It needs so much money spent on it to work the way it should be working. 

“It needs dramatic change.” 

The redevelopment of Poplar is often framed as an expansion of Canary Wharf and the super-rich. 

Two-thirds of the land is owned by City of London while the remainder belongs to Tower Hamlets, and the latter have pledged to operate in line with their affordable housing policy which dictates that at least 35% and up to 50% of new homes must be ‘affordable’. 

Some local businesses are viewing the change as an opportunity, as the prospect of commercial space that is slightly removed from Canary Wharf offers unique opportunities for small companies looking to grow. 

Founder of Adore Dance Joe Watson said: “I'd love to open a branch of my business in that area, but the commercial space is tied up in what I can only describe as ‘Canary Wharf life’ – ultra premium, ultra luxurious, very expensive for an independent business owner. 

“Somewhere around Billingsgate, while technically not on Canary Wharf, still benefits from being so close.”

Adore are a local business who’s clientele tend to travel short distances from either work or home for classes. 

Hackney Wick, the location of their current premises, might provide a blueprint for the future of West India Dock.

Watson agreed that, despite huge redevelopment, some of the character of Hackney Wick's industry has survived.

City of London said: "Traders will continue their operations at Smithfield and Billingsgate until at least 2028, ensuring a gradual transition period with ample time for planning and collaboration on next steps."