A London icon, explored in history
By Luke Chapman
You walk past it every day, but really, what’s inside it? The Royal Exchange was at the core of London for hundreds of years, and now it’s the heart of London’s luxury shopping (and some incredible food).
But what’s the story of this pantheon above London’s most complicated interchange station?
History
Founded in 1566 by Sir Thomas Gresham (yes, hello Gresham Street and SO much more), The Royal Exchange was established as London’s first-ever purpose-built centre for trading stocks, modelled on the world’s oldest stock exchange in Antwerp.
Not only this, but in 1660, retail outlets and eateries were added, making it Britain’s first-ever shopping mall.
But wait… Fires! Not just *that* one in 1666, of which yes, our beloved Royal Exchange indeed was burnt down, but again in 1838, the Royal Exchange was once again burned down.
This is where the famous columns come in. After a design competition was launched following the second fire, the prevailing architect, Sir William Tite, added the eight imposing columns onto the facade whilst remodelling the original Royal Exchange design.
Fun Facts
Did you know, in 2024, the famous columns of The Royal Exchange were transformed into candy canes! (Let’s petition to bring them back).
The Royal Exchange not only fell victim to the great fire in 1666, but was also razed to the ground again in 1838 due to an overheated stove in a tea room.
By 1982 the Exchange wasn’t in a good state, with its roof in imminent danger of collapse. This is when the first moves to modernise and use the space in today’s world were first taken.
With the outbreak of the Second World War, the Royal Exchange was shut in 1941, and trading ceased. Luckily the building only received minor damage throughout the war, but with the cessation of trading, the building thereafter entered disrepair.
In 1953, the courtyard was temporarily turned into a performance area as the Mermaid Theatre made it their home.
With a throwback to its past, in 1982 The Royal Exchange temporarily turned into a trading post again when the Financial Futures Exchange moved in.
The Exchange today
In 2001, The Royal Exchange was remodelled into the luxury centre that we all know and love today. It now houses a huge range of famous names such as The Libertine, Fortnum & Masons, and beloved brands such as Hérmes, Tumi, Jo Malone, and many more.
Not many people know that you can pop into The Royal Exchange just for a wander, appreciate the gorgeous architecture, and maybe use the public loo too. It’s a beautiful place to head into and experience a part of history from over 500 years on your way home, or on your weekend!
We’ve had many a visit there, including to Fortnum & Masons for a Saturday afternoon tea, paid a visit to Elevate Wellness to make us younger, we’ve painted our own cocktails at Engel Terrace, and even seen a live DJ on the steps of the building!