One of South London's most popular food destinations has officially confirmed its future, putting an end to recent speculation about an imminent closure. Mercato Metropolitano in Elephant & Castle will continue trading until at least the end of 2026, before the site is eventually demolished to make way for a major new housing development.
Development Plans and a Stay of Execution
The confirmation comes after Southwark Council approved the Borough Triangle development in March of this year. The scheme, led by Berkeley Homes, will see the construction of 892 new flats in tower blocks reaching up to 44 storeys high. To clear the space, several existing buildings will be bulldozed, including the historic, locally listed Institute of Optometry and the former paper factory that has housed the food market for the past nine years.
Despite the approved plans, the market's operators have moved to clarify the timeline. The Local Democracy Reporting Service understands that trading will continue as usual throughout next year, with further announcements about the site's ultimate fate expected in early 2026.
A Thriving Hub for Global Cuisine
The Elephant & Castle site is a cornerstone of the local food scene, providing a home for 40 independent food and drink traders. It has built a strong reputation for offering a diverse range of world cuisines, with notable vendors serving dishes from Nigeria and Syria, among many others. This location is one of three Mercato Metropolitano venues in London, alongside its siblings in Mayfair and Canary Wharf.
Dee Salih, Director of Brand and Marketing at Mercato Metropolitano, directly addressed the rumours, stating: "Despite recent incorrect speculation, the market is open, thriving and we have lots more exciting things to look forward to in 2026."
New Year's Eve Plans and Trader Relocation
Emphasising its ongoing vibrancy, the food hall has announced a major New Year's Eve event. On Wednesday, 31 December, the space will be transformed into "one huge party venue" from 7pm until 2am. Ticket holders will gain access to four distinct musical areas, food, drinks, and live entertainment, while non-ticket visitors can still enjoy the food and drink offerings.
Looking ahead to the eventual redevelopment, Berkeley Homes has outlined support for the current traders. The developer has said there will be an opportunity for up to 12 stallholders to relocate to a temporary nearby site during construction. According to Southwark Council planning documents, the remaining vendors will be offered a relocation package by the developer.
The wider Borough Triangle project promises more than just homes. The proposals also include:
- A new office block.
- Flexible café or retail space.
- A new community centre, expected to be occupied by a Latin American group.
- 1,780 square metres of new public space.
Of the 892 new flats, 230 are planned to be 'affordable' at up to 80% of local market rates, with a further 153 for social rent. This meets the council's policy of delivering 35% affordable housing within new developments. Berkeley Homes has described the project as creating a "thriving, diverse and welcoming neighbourhood with world-class architecture."
For now, locals and visitors can continue to enjoy the unique culinary atmosphere at Mercato Metropolitano, with its future secured for the next two years.
