The Metropolitan Cattle Market (later Caledonian Market), just off the Caledonian Road in the parish of Islington (now the London Borough of Islington) was built by the City of London Corporation and was opened in June 1855 by Prince Albert. The market was supplementary to the meat market at Smithfield and was established to remove the difficulty of managing live cattle at that latter site.
The market was designed by the corporation's architect, James Bunstone Bunning. He had previously drawn up plans to rebuild the cattle market at Smithfield, before the Corporation decided to remove the trade in live animals to a site outside the City itself.
The market originally covered 30 acres (0.12 km2) of the site and grounds of Copenhagen House (previously a pleasure resort and tea garden). It occupied most of the land between Hungerford Road and Hartham Road (north), Caledonian Road (east), Brandon Road and Blundell Street (south) and York Way (west) and its construction cost the Corporation £300,000. Market Road, North Road, Shearling Way and Brewery Road were internal roads within the market area.
The site was chosen for its proximity to the goods yards of the newly opened Great Northern Railway and North London Railway to the north of Kings Cross station. Livestock could be conveniently transported to the depots before being driven the short distance up York Way to the market or walked down from Junction Road railway station. On market days in excess of 15,000 animals could be traded.