The beautiful 6.5-acre site, which includes medieval courtyards, a chapel, cloister and gardens, lies just behind an unassuming gate just a few metres from Smithfield Market in the heart of the hectic City of London.

BBC: The quietest corner of London

T-bone steak (deboned) in London's Smithfield meat market as a gesture of solidarity.

ECONOMIST: Beef

People involved in the deal said it could open China's market more to Smithfield sausage, hams and other meat, instead of paving the way for broadening channels into the U.S. for the Chinese company's products.

WSJ: Poultry-Plant Fire in China Kills More Than 100

People involved in the deal said it could open China's market more to Smithfield sausage, hams and other meat, instead of pave the way for broadening channels into the U.S. for the Chinese company's products.

WSJ: Poultry-Plant Fire in China Kills More Than 100

At Smithfield, "one of the grandest processions of market buildings in Europe is hanging in the balance, " Ms. Cecil says.

WSJ: A Modern Plan for Historic London Market

London has a tradition for redeveloping its historical markets, and Smithfield would be the latest in a line of renovations, including Leadenhall Market and Covent Garden, both of which still stand on their medieval sites and mix original architecture and modern design.

WSJ: A Modern Plan for Historic London Market

He lost 30 pounds over about four months with the Atkins diet, and thinks Smithfield's new range of lean pork could do well in a growing market for low-carbohydrate foods.

ECONOMIST: Dieting