Two of London's most historic markets are set to close their doors for good in a few years. 

Smithfield and Billingsgate markets are fish and meat markets that have been open for more than 850 years.

However, in recent years, the future of the markets was unsure, with original plans to move them to the outskirts of London called off.

Now, the City of London Corporation has confirmed that Smithfield and Billingsgate could be shut down by 2028.

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Smithfield and Billingsgate to close down

It comes after the City of London Corporation voted to withdraw its support for the Smithfield meat market in Farringdon and the Billingsgate fish market in Canary Wharf.

Traders at the market are understood to be offered compensation as the corporation adds it will offer to help them find new premises to operate.

Fish market Billingsgate is reportedly being looked at as a site for thousands of new homes, reports Time Out.

The fish market saw many famous faces grace stalls, with writer George Orwell and comedian Micky Flanagan both marking at Billingsgate.

The markets could close in 2028.The markets could close in 2028. (Image: PA)

Following the news of the two potential closures, workers at Billingsgate market told the BBC it was "all about the money now" adding: "It just means another tradition that will go in London."

Smithfield Meat Market is currently being redeveloped to become the space for the relocated London Museum.

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As the largest meat market in the UK, Smithfield has been a space for markets since at least the 12th Century.

Before the City of London Corporation voted to withdraw funding, both markets were set to move to a purpose-built market site in Dagenham costing around £1 billion.

However, the plans came to an end as concerns of cost began to rise, although the council has already bought the land in Dagenham costing £308 million.