Manchester New Exchange Spring Gardens

PROPOSED NEW EXCHANGE - The Company being now constituted, the Board of Directors formed, and the land secured, the Directors regard with satisfaction the success that has thus so far attended their efforts to obtain for merchants and manufacturers the advantages detailed in the preliminary prospectus. The ground plan, prepared by Mr Waterhouse, shows that the new building will have an internal area of 29,000 square feet, independent of the space occupied by the subsidiary offices and retiring rooms; while the situation in close proximity to the banks and principal warehouses, is admirably suited for the purpose of the Exchange.

THE CLOSING OF MARRIOTTS COURT: APPEAL - In 1865, when the proprietors of the Manchester Royal Exchange took steps to extend their premises, a number of gentlemen associated themselves into a limited liability company for the purpose of building a new and rival exchange and selected for their site a plot of land lying between Brown Street and Spring Gardens, bounded by King Street to the south and the Clarence Hotel to the north. They purchased the property at a cost of £128,000, and requiring uncontrolled possession of the whole plot they applied to the City Council to absorb and build upon Marriott’s Court, the narrow street running between Brown Street and Spring Gardens. The Council gave the necessary permission in January 1866, but this was appealed by Murray Gladstone, (of the Royal Exchange Company). As all parties were aware, if successful this appeal on behalf of the public would effectively scupper the scheme. [Manchester Guardian 23 April 1866 page 3]

London Gazette 9 July 1867 page 3873 Manchester New Exchange Company Limited in voluntary liquidation

MANCHESTER NEW EXCHANGE COMPANY LIMITED – IN LIQUIDATION – Eligible Site in the Business Centre of the City. FOR SALE by Private Treaty, the Extensive and Desirable Property belonging to the Manchester New Exchange Company Limited. The property is bounded by Brown Street, Spring Gardens, and King Street, extending back to and including a portion of the Clarence Hotel. It embraces an area of 5,274 square yards or thereabouts. The singularly advantageous position of this property, situated as it is in the centre of the business locality, in the midst of the banks, and contiguous to the great mass of the warehouses, offers an inducement of no ordinary kind to capitalists, and presents a splendid opportunity for the erection of offices, warehouses etc. For commercial purposes the site is perhaps superior to any in the city, being within a short distance of the Exchange and projected New Town Hall, and embracing every feature which can render it eligible as a highly remunerative investment. The property will be sold either as an entirety or in lots to suit purchasers. Plans and al necessary particulars may be obtained on application to Mr Frederick Ogden Brown Street Manchester. [Manchester Guardian 21 July 1868 page 2]