Mercato Metropolitano set for demolition as Southwark approves controversial Borough Triangle redevelopment
While London’s skyline continues its race upwards, not everyone is cheering the changes. In the latest twist in the capital’s redevelopment story, the popular food hall Mercato Metropolitano in Elephant and Castle is set to be demolished, making way for a massive new residential complex. The Southwark Council gave the green light last week for the £600 million Borough Triangle project, which will deliver nearly 900 homes, towering up to 44 storeys high, and reshape a pocket of south London that’s long been a hub for local life.
What’s striking about this decision is the trade-off it represents. On paper, the new development promises a lot: 892 flats, including 230 classed as affordable and 153 for social rent, alongside office space, a café, and a new community centre reportedly earmarked for a Latin American organisation. The new plan even includes a permanent food market designed in collaboration with Mercato Metropolitano, meant to preserve its atmosphere and trader count. But many locals feel what’s at stake goes beyond just bricks and leases.
The existing Mercato Metropolitano, set within a former paper factory, has been trading for nearly a decade. In that time, it’s become more than a food destination. It’s turned into a community magnet – a social, cultural, and economic asset that attracts over 600,000 visitors a year. As one local put it, “This isn’t just a market. It’s a key reason people want to live here.” You can see why emotions are running high.
The proposed demolition also includes the Institute of Optometry, a 100-year-old building that’s been locally listed. It’s another casualty of the council’s wider drive to unlock new housing through regeneration. That’s sparked resistance from campaigners who argue that too much of what makes Southwark unique is being erased in the process. Meanwhile, only 12 of the current 40 market stalls will be rehoused in a temporary site during construction, despite 423 workers being impacted. Berkeley Group, the developer behind the scheme, has pledged £200,000 to help affected businesses relocate.
Interestingly, not all traders are against the plan. Some, like Andrea Ferrario from German Kraft Brewery, see opportunity in change.
“Having a longer lease will help you to establish your business, build your clientèle,”
he said, pointing to the insecure six-to-twelve-month contracts many current traders operate under. That need for stability in a notoriously cutthroat industry is part of what makes the offer of a new, purpose-built food market appealing to some.
Still, the overall scale of the project – spanning an area roughly one and a half football pitches – and the time it will take to complete (up to nine years, starting in 2026), leaves plenty of room for both excitement and concern. Regeneration has always been a double-edged sword in London. It brings investment and housing, yes, but it can also displace, disrupt, and gentrify.
To get an overview of the council’s position, visit Southwark’s planning applications portal, where the full scheme documents are available.
For those following other major development stories in the capital, EyeOnLondon recently covered how Hammersmith and Fulham’s survey breach has raised questions about the transparency of local planning processes.
For more updates on London’s regeneration projects and further insights, visit EyeOnLondon. We’d love to hear your views in the comments.
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