Hatton Garden
Hatton Garden in the Holborn district of London is regarded as London's jewellery quarter.

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The Bourse – the trading floor for precious stones – held an extraordinary general meeting for its 300 members earlier this month to discuss its future.

At the meeting, 92% voted in favour of continuing to look at options to move to a new “jewellery hub” as rents continue to rise in the area ahead of the opening of Crossrail at nearby Farringdon station.

Bourse chief operating officer Victoria McKay said: “We ask that the jewellery community keep their minds open to understanding what a move en masse could mean for the trade.

"Stand together"

“Hatton Garden’s biggest strength could be that if we stand together, we could earn ourselves a world-class jewellery hub which will provide a secure future for us and the industry.”

The lease of the Bourse’s historic home at 100 Hatton Garden expires in three years’ time.

The Bourse is in discussion with property advisers about alternative locations but will focus on options inside the M25.

If the diamond industry leaves its historic home it will follow a string of other traders that have had to relocate due to rent increases and redevelopments.

The butchers of Smithfield Market near Farringdon continue to trade but the original fruit, vegetable and flower market of Spitalfields moved further east to Leyton and is called New Spitalfields; the fish market at Old Billingsgate moved to Poplar, also in east London; and New Covent Garden market is moving for a second time to a new site close to its current home in Nine Elms, south London.