Royal Exchange

This remarkable building, surrounded by the Bank of England, Mansion House and the Stock Exchange, was founded as 'a comely bourse for merchants to assemble upon' by the wealthy London mercer Sir Thomas Gresham.

The City of London Corporation and the Worshipful Company of Mercer provided the land, both of whom still jointly own the freehold.

Richard Clough, who designed the building, oversaw the import of various materials from Antwerp, such as: glass, wood, slate and stone, which he paid for out of his own pocket.

So impressed was Queen Elizabeth I by Gresham's achievement that, on January 23, 1571, she visited it and declared, "It must be called the Royal Exchange."

In addition to its trading floor and offices, the original building also enjoyed an upper floor of over one hundred popular and lively small shops, modelled after the New Exchange in Antwerp.

After the Great Fire of 1666 the Royal Exchange was twice rebuilt. In 1667, King Charles II laid the foundation stone for a building designed by Edward Jerman. This building, opened in 1669, had a tall wooden tower built over the south entrance. Unfortunately, this fell into disrepair and, 1821, was replaced with a stone tower, designed by George Smith. On January 10, 1838, this building was also destroyed by fire. The blaze was so bright that it could be seen from Windsor, some 24 miles (39 km) away.

The building we see today, designed by Sir William Tite, was opened by Queen Victoria, in 1844, although trading did not begin until January 1, 1845. 

Tite ensured that his design adhered to the original layout of a four-sided structure, surrounding a central courtyard. Edward l'Anson designed the internal works, and used concrete in the construction. This was one of the earliest examples of the use of concrete. Richard Westmacott (the younger) created the sculptures, while Henry Grissell's Regent's Canal Works created the ornamental ironwork.

The site was enlarged and the magnificent Corinthian eight-pillared portico, that now greets visitors was created. At this time the shops disappeared to be replaced completely by offices, while the courtyard was roofed over.

Later, in 1892, the Gresham Committee filled the walls of the Ambulatory with sumptuous paintings showing the rich and varied history of the City of London.

Today, this Grade I listed building has come full circle. 

In 2001, the Royal Exchange was extensively and sympathetically remodelled with the result that, today, it is once again an appropriate home for many of the world's finest merchants. Under one roof all that is beautiful and stylish is freely available to buy. 

There is no doubt that Sir Thomas Gresham would be delighted that, after so many centuries, his unique vision has once more been fully realised.