To say that the Sydney Fish Markets will look a little different in two years time is a gross understatement. In fact, the markets will be moving and transformed into a new fishy hub courtesy of a $250 million cash injection from the NSW government.

On Sunday, the government revealed plans for the Sydney Fish Market’s new home in Blackwattle Bay. The development was announced by Premier Gladys Berejiklian, who confirmed that the popular markets will move to a new Danish-designed space, neighbouring its current residence on the bay’s south side. The project itself is intended to be funded by the sale of the old space for high-rise apartments.

Danish architects 3XN will be leading the refurb, of which the final design has not been confirmed. There is expected to be plenty of community consultations involved so as to ensure the new precinct extends far beyond a produce market. “It’s going to be a lot better not only for the people who work here in the fish market and people visiting the fish market, but also for the people who live around here,” says architect Kim Herforth Nielsen. “They’ll see it as a new centre for the area.”

As to what exactly residents can expect from the development, there will be plenty more dining options, and the convenience of more parking for guests, as well as tram access. “More foreshore dining space. Open shop areas where people can see our fabulous product,” explains Bryan Skepper general manager of the Sydney Fish Market of the project’s plans. Rumours of rooftop bars, cafés, foreshore space and a public boardwalk have also been bandied about.

Construction for the new Sydney Fish Markets is expected to commence at the end of 2018.