an article by Carol Dunham

Twentieth century shoppers probably thought they were the first bargain hunters to enjoy the convenience of shopping malls. But they were mistaken, several hundred years before, London shoppers had enjoyed a shopping mall.

On June 23, 1571, the Royal Exchange Cornhill was opened by Elizabeth I. the Exchange was built by Sir Thomas Grisham on land between Cornhill and Thread-needle Streets.

From the gateway, shoppers entered a courtyard decorated with statues of English kings. Around the courtyard were three connected buildings. The buildings, which rose four stories high, were constructed of brick, although the brick was later covered with stucco. Running in front of all the buildings was a covered walkway, so shoppers could stay out of the rain as they ran in and out of about 100 stores, offering such diverse merchandise as millinery, books, armor, and jewelry, to mention a few. The shops were open in the evening when the stores were lit by candlelight, and every Sunday, from 1571 to 1642, concerts were given by local musicians. Sadly, the Exchange was destroyed in the great London fire of 1666.

Emerson, Kathy. The Writer's Guide to Renaissance England from 1485-1649. Cincinnati, OH: Readers Digest Books, 1996.

The Royal Exchange was rebuilt twice, once after the Great Fire of London, and again in 1844 after another fire destroyed the newer building in 1838. It was London’s center of commerce until 1939; today it again serves its original purpose as a luxury shopping mall.