Nottingham’s oldest shopping arcade set for new stores after string of closures

A business has set its sights on the historic building

Nottingham’s oldest shopping arcade looks set to welcome a new business following a string of prominent shop closures.

A new store could soon fill an empty unit in The Exchange Arcade, located just off Old Market Square and directly behind the Council House.

The grand Grade II-listed building once housed classy businesses such as the Burtons of Smithy Row delicatessen and grocer, considered the city’s answer to Fortnum and Mason.

But in recent years, several prominent traders have come and gone – most notably Dunkin’ Donuts and Patisserie Valerie.

The American doughnut café left in May, whilst the latter closed its doors after more than decade in 2024 as bosses had failed to reach a rent agreement with the landlord.

A glimmer of hope is now in sight for the historic centre, with plans to open a “lingerie boutique” submitted to Nottingham City Council.

Applicant Lembey Assitou Nsika Nkaya has asked the authority for permission to install new signage at a vacant unit last occupied by Exchange Barbers, which closed in August 2025.

Planning documents suggest the new store will be operated by Valege Lingerie, a French lingerie brand founded in the 1990s.

The positive news comes two months after coffee giant Starbucks submitted plans to take over the shopping arcade’s long vacant Patisserie Valerie unit.

Concerns around the number of empty shops at the Exchange Arcade were raised at a city council meeting in July by a member of the public.

The authority’s leader Neghat Khan explained that the condition of the centre and adjacent Council House is being assesed.

However, Cllr Khan said the day-to-day management of the arcade and occupation of shops rests with the leaseholder – the Shell Pension Fund.

“The Exchange Arcade is a beautiful part of our city and, alongside the Council House, is one of Nottingham’s most recognisable landmarks,” the leader said.

“I also agree that it deserves to be better known and better used by both residents and visitors.

“By way of background, the Exchange Arcade is held on a 125-year lease by the Shell Pension Fund, with 83 years left to go.

“Should any significant improvements be proposed, they would require the Council’s consent as landlord, together with the necessary planning and listed building approvals.

“At the present time, no such proposals have been brought forward.”

According to Box Property, which advertises many of the units in the shopping arcade, the former Sofa.com shop is up to let, alongside Dunkin Donuts’ former section of the centre.