Description:
Taken from 'Thoroton and Throsby: Vol II'.
Following is a description taken from 'Nottingham in 1839':- 'The market place is one of the largest and finest in the kingdom, surrounded with lofty buildings. Among the principal buildings are 'the New Exchange' at the east end of the market-place, a brick building erected early in the last century (1724-6 - seen here), and repaired and beautified in 1814-5.
The lower part is appropriated to shops, behind which are the shambles (butchers shops); the upper part contains a suite of noble rooms for the transaction of public business or for assemblies. When the Exchange came to be built in 1724 a great piece was taken off the Market Place to accommodate it. It was advanced its own depth westward and in order to give it a good facade it took in the site of the old Shoe Booths that existed there before, but as Exchange Alley was an ancient public thoroughfare the new buildings were not allowed to interfere with it and it had to bridge over the old trackway (probably now the walk-through Exchange Arcade).'
The Exchange was demolished in 1926 and its location is now covered by the Council House.