The Exchange, Dunedin
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The Exchange is an area of central
Dunedin Dunedin ( ; ) is the second-most populous city in the South Island of New Zealand (after Christchurch), and the principal city of the Otago region. Its name comes from ("fort of Edin"), the Scottish Gaelic name for Edinburgh, the capital of S ...
, in the
South Island The South Island ( , 'the waters of Pounamu, Greenstone') is the largest of the three major islands of New Zealand by surface area, the others being the smaller but more populous North Island and Stewart Island. It is bordered to the north by ...
of
New Zealand New Zealand () is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and List of islands of New Zealand, over 600 smaller islands. It is the List of isla ...
. The area was the original heart of Dunedin's CBD, although that has now moved north to an area around the city's central plaza (
The Octagon The Octagon may refer to: *The Octagon, Christchurch, a former church in the central city of Christchurch, New Zealand *The Octagon, Dunedin, the city centre of Dunedin, New Zealand *The Octagon (Egypt), the headquarters of the Egyptian Ministry of ...
) and George Street, which leads north from it. The Exchange tales its name from the former Dunedin Stock Exchange building, which stood at the heart of the area until it was demolished in the 1960s.


Geography

The Exchange is located around south of The Octagon, on and around
Princes Street Princes Street () is one of the major thoroughfares in central Edinburgh, Scotland and the main shopping street in the capital. It is the southernmost street of Edinburgh's New Town, Edinburgh, New Town, stretching around 1.2 km (three quar ...
, and in centred around John Wickliffe Plaza and the adjacent John Wickliffe House. Here, Princes Street reaches its lowest point, having descended from the stump of Bell Hill to what was once on Dunedin's
Otago Harbour Otago Harbour is the harbor, natural harbour of Dunedin, New Zealand, consisting of a long, much-indented stretch of generally navigable water separating the Otago Peninsula from the mainland. They join at its southwest end, from the harbour m ...
shoreline. Below the Exchange, Princes Street rises slightly as it heads south towards
South Dunedin South Dunedin is a major inner city suburb of the New Zealand city of Dunedin. It is located, as its name suggests, to the south of the city centre, on part of a large plain known simply as "The Flat". The suburb is a mix of industrial, retai ...
. To the east of the Exchange lies an open grass reserve,
Queens Gardens Queens Gardens or Queen's Gardens may refer to: * Queen's Gardens, Kingston upon Hull – gardens in the East Riding of Yorkshire, England * Queen's Gardens (Croydon) – gardens in south London, England * Queen's Gardens, Westminster – gardens ...
and the northern end of the Warehouse Precinct. This latter precinct was the site of Dunedin's early docks and warehousing, but has been
gentrified Gentrification is the process whereby the character of a neighborhood changes through the influx of more affluent residents (the "gentry") and investment. There is no agreed-upon definition of gentrification. In public discourse, it has been us ...
since the late 1990s and is now the site of numerous cafes and small businesses. The docks have moved further east after significant reclamation in the late 19th century.
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bisects and borders the Warehouse Precinct, divided into two one-way streets (the northbound Crawford Street and southbound Cumberland Street). To the west of the Exchange are the lower slopes of
City Rise City Rise is an inner suburb of the New Zealand city of Dunedin. One of the city's older suburbs, it is, as its name suggests, centred on the slopes which lie close to the city centre, particularly those closest to the city's original heart of ...
, accessed via High Street and Rattray Street. These streets lead to the hill suburbs of Mornington and Roslyn. Several small streams have historically run through the Exchange, although they now pass through subterranean courses. The most notable is the Toitū Stream, which can still be seen in its upper course close to Serpentine Avenue and MacLaggan Street in City Rise.


History

Now several hundred metres inland from the edge of the
Otago Harbour Otago Harbour is the harbor, natural harbour of Dunedin, New Zealand, consisting of a long, much-indented stretch of generally navigable water separating the Otago Peninsula from the mainland. They join at its southwest end, from the harbour m ...
, the site was originally coastal,Miller, T., and Brosnahan, S.,
170 years of change: Dunedin's original shoreline
" ''Otago Daily Times'', 9 April 2020. Accessed 25 January 2023.
and was one of several landing places used by
Kāti Māmoe Kāti Māmoe (also spelled Ngāti Māmoe) is a Māori iwi. Originally from the Heretaunga Plains of New Zealand's Hawke's Bay, they moved in the 16th century to the South Island which at the time was already occupied by the Waitaha. A centu ...
and Kāi Tahu Māori. It had a gently sloping beach and access to fresh water and hunting, making it an ideal spot for settlement, and was still in use at the time of the first European colonisers. Known as Toitū tauraka waka, it became a major point of interaction between Māori and pākeha in Dunedin's early history. The site is recognised by a plaque at John Wickliffe Plaza, and by a Heritage New Zealand ''Wāhi Tāpuna'' designation as a place important for its significance to Māori for historical, cultural, and traditional reasons. Reclamation of the foreshore led to the loss of the tauraka waka and the associated Princes Street Reserve, leading to a Māori grievance which would not be settled for over a century. The matter was finally settled as part of Waitangi Treaty claims in 1998. The Exchange was the site of the original landing place of settlers from the two ships which brought the Otago Association's settlers to Dunedin, and was the site of the homes and offices of the city's founder, Captain William Cargill and chief surveyor Charles Kettle. The two ships, the '' John Wickliffe'' and the ''Philip Laing'', arrived in early 1848. As they could not negotiate the harbour, they set anchor at the
Otago Heads The Otago Heads is the historic name given to the headlands and coastal settlements close to the mouth of the long drowned volcanic rift which forms the Otago Harbour, in the South Island of New Zealand. The name has traditionally referred prim ...
. Settlers from the ships travelled by smaller rowing boat from there to Dunedin. Massive reclamation of the area led to the creation of a wide strip of land, since occupied by commercial premises, warehousing, and the main rail line. The original nature of the site is reflected in the names of Jetty Street and Water Street, both of which cross Princes Street close to the Exchange. This part of Princes Street was at one point the location of a bridge across the Toitu Stream, now diverted underground. A spring which fed the stream is still used as the source of water for
Speight's Brewery Speight's is a beer brand and a brewery located in Dunedin, New Zealand. The brand is owned by the Japanese-controlled holding company Lion, itself a subsidiary of Kirin. Speight's is best known for its Gold Medal Ale, one of the best-selling ...
, located 200 metres to the northwest on Rattray Street. The Exchange was at one time a complex intersection with two busy streets, Rattray Street and High Street. These lead from the twin streets which make up
State Highway 1 The following highways are numbered 1. For roads numbered A1, see list of A1 roads. For roads numbered B1, see list of B1 roads. For roads numbered M1, see List of M1 roads. For roads numbered N1, see list of N1 roads. For roads numbered S ...
at Queen's Gardens to the older hill suburbs to the west. As such, it also became a major transport hub, with both buses and Dunedin's
trams A tram (also known as a streetcar or trolley in Canada and the United States) is an urban rail transit in which Rolling stock, vehicles, whether individual railcars or multiple-unit trains, run on tramway tracks on urban public streets; some ...
utilising the area as a major nexus. Though these streets originally both crossed Princes Street, civic planning has reduced High Street at the intersection to a minor road, and John Wickliffe Plaza now covers part of the original intersection. Today, though it is no longer the city's business centre, the Exchange is a vibrant area containing both office buildings and small eateries. Dowling Street, at the northern extreme of the Exchange, is the heart of Dunedin's art scene, with several galleries, notably including Milford Galleries and Blue Oyster Art Project Space.


Buildings and features

The former Exchange Building, from which the Exchange takes its name, was an impressive structure, designed by
William Mason William, Willie, or Willy Mason may refer to: Arts and entertainment *William Mason (poet) (1724–1797), English poet, editor and gardener *William Mason (architect) (1810–1897), New Zealand architect *William Mason (composer) (1829–1908), Ame ...
as a Post Office and later occupied by the
University of Otago The University of Otago () is a public university, public research university, research collegiate university based in Dunedin, Otago, New Zealand. Founded in 1869, Otago is New Zealand's oldest university and one of the oldest universities in ...
and the
Otago Museum Otago (, ; ) is a region of New Zealand located in the southern half of the South Island and administered by the Otago Regional Council. It has an area of approximately , making it the country's second largest local government region. Its po ...
. Next to this was the 1863 Customhouse building, and outside the two was an open space known as Customhouse Square. The Exchange building was pulled down in 1969, and it was largely the destruction of this building that led to changes in attitudes by Dunedinites regarding the change of their cityscape. Since this time, changes to the city's old buildings have been met with vociferous protests. The Customhouse building is also long since gone. Today, the site of the buildings is the location of one of Dunedin's biggest office blocks, John Wickliffe House, and the adjacent John Wickliffe Plaza. Both are named for the ''John Wickliffe'', the first of the two ships which brought the Otago Association's settlers to Dunedin (a nearby building, Philip Laing House, is named for the other of these two ships). Despite this, the area is the site of several prominent Victorian buildings, notably former bank buildings at the northern end of the area. John Wickliffe Plaza is the site of one of Dunedin's more notable public monuments, the Cargill Monument, dedicated to city founder Captain William Cargill. This monument, designed by Charles Robert Swyer and built in 1863-4, was originally sited in the Octagon, but was moved to the Exchange in 1872. The monument is listed (Category I) by
Heritage New Zealand Heritage New Zealand Pouhere Taonga (initially the National Historic Places Trust and then, from 1963 to 2014, the New Zealand Historic Places Trust; in ) is a Crown entity that advocates for the protection of Archaeology of New Zealand, ancest ...
. The Plaza contains several other items of public sculpture, notably a series of three small brass penguins called "We are not alone", sculpted by Dan Parry-Jones and unveiled in 1999. A Historic Places Trust blue plaque at the foot of the Cargill Monument marks the location of the first
Salvation Army The Salvation Army (TSA) is a Protestantism, Protestant Christian church and an international charitable organisation headquartered in London, England. It is aligned with the Wesleyan-Holiness movement. The organisation reports a worldwide m ...
meeting in New Zealand, held at the site in April 1883.


Heritage New Zealand listed buildings

The lower Exchange contains one of Dunedin's more notable public houses. Wain's Hotel, immediately opposite the former Post Office building, is an imposing Italianate structure built in 1878 from designs by Mason and Wales. Few place in New Zealand contain as many
Heritage New Zealand Heritage New Zealand Pouhere Taonga (initially the National Historic Places Trust and then, from 1963 to 2014, the New Zealand Historic Places Trust; in ) is a Crown entity that advocates for the protection of Archaeology of New Zealand, ancest ...
Category I or Category II protected buildings within such a small area. These buildings include the following: *Dowling Street Steps, cnr of Dowling and Princes Sts (Category II). The steps were designed and built in 1926 to link Princes Street with Tennyson Street, at the top of the stump of Bell Hill. *The former Excelsior Hotel Building, 152–158 Princes St (cnr of Dowling and Princes Sts) (Category II). This imposing structure was built by Robert Forrest in 1888 and is in the Victorian Renaissance Revival style. *The former
Salvation Army The Salvation Army (TSA) is a Protestantism, Protestant Christian church and an international charitable organisation headquartered in London, England. It is aligned with the Wesleyan-Holiness movement. The organisation reports a worldwide m ...
fortress, 37 Dowling St (Category II). *The former Garrison Hall, 8 Dowling St (Category I). *Milford Galleries building, 20 Dowling St (Category I). *The Commerce Building, cnr Dowling St and Burlington St (Category II). *The Imperial Building, 1 Dowling St (cnr Dowling St and
Queens Gardens Queens Gardens or Queen's Gardens may refer to: * Queen's Gardens, Kingston upon Hull – gardens in the East Riding of Yorkshire, England * Queen's Gardens (Croydon) – gardens in south London, England * Queen's Gardens, Westminster – gardens ...
) (Category II). *The National Bank Building, 193 Princes St (Category I). Designed by William Dunning, an Australian architect, and Charles Fleming MacDonald, this building is reminiscent of many of the grander buildings in Melbourne and Sydney. Constructed in a neo-
Baroque The Baroque ( , , ) is a Western Style (visual arts), style of Baroque architecture, architecture, Baroque music, music, Baroque dance, dance, Baroque painting, painting, Baroque sculpture, sculpture, poetry, and other arts that flourished from ...
style, it uses Tasmanian sandstone and
trachyte Trachyte () is an extrusive igneous rock composed mostly of alkali feldspar. It is usually light-colored and aphanite, aphanitic (fine-grained), with minor amounts of mafic minerals, and is formed by the rapid cooling of lava (or shallow intrus ...
as a major feature in its façade, and was completed in 1913. Continuing the history of the building be tenanted by financial institutions, the building was for many years home to MTF, a vehicle finance company. *The Façade of the Former Exchange Court Building, 194 Princes St (Category II). *The
Bank of New Zealand Bank of New Zealand (BNZ) is one of New Zealand's Big Four (banking)#New Zealand, big four banks. It has been operating since October 1861, and since 1992 has been owned by National Australia Bank (NAB), retaining local governance with a New Z ...
Building, 205 Princes St (cnr. Princes and High Sts) (Category I). Designed in Venetian
Renaissance The Renaissance ( , ) is a Periodization, period of history and a European cultural movement covering the 15th and 16th centuries. It marked the transition from the Middle Ages to modernity and was characterized by an effort to revive and sur ...
styling, the 1882 BNZ building stands just two doors along from the National Bank building. The William Armson-designed building is notable for the richly carved exterior work by
Louis Godfrey Louis may refer to: People * Louis (given name), origin and several individuals with this name * Louis (surname) * Louis (singer), Serbian singer Other uses * Louis (coin), a French coin * HMS ''Louis'', two ships of the Royal Navy See also * ...
and moulded ceilings in its interior. The façade combines Doric, Ionic and Corinthian styles, and makes good use of
Port Chalmers Port Chalmers () is a town serving as the main port of the city of Dunedin, New Zealand. Port Chalmers lies ten kilometres inside Otago Harbour, some 15 kilometres northeast of Dunedin's city centre. History Early Māori settlement The or ...
bluestone Bluestone is a cultural or commercial name for a number of natural dimension stone, dimension or building stone varieties, including: * basalt in Victoria (Australia), Victoria, Australia, and in New Zealand * diabase, dolerites in Tasmania, ...
and Oamaru stone, a compact, cream-coloured limestone. *The Southern Cross Hotel, 118 High St (cnr. High and Princes Sts) (Category I). One of Dunedin's principal hotels, the Southern Cross is housed in an impressive 1883 building designed by Louis Boldini. It occupies a prominent corner site in the heart of the Exchange. Formerly the Grand Hotel, the building has been extended considerably on several occasions in its history, and was considerably renovated in the 1980s, though most of its original features remain. The Southern Cross Hotel Building is home to Dunedin Casino. *The former Taimex Building, 126 Rattray St (Category II). *The Clarion Building, 282–292 Princes St (Category II). This 1878
William Mason William, Willie, or Willy Mason may refer to: Arts and entertainment *William Mason (poet) (1724–1797), English poet, editor and gardener *William Mason (architect) (1810–1897), New Zealand architect *William Mason (composer) (1829–1908), Ame ...
building was originally a major drapery store in the heart of what was then Dunedin's retail district. The exterior is of Venetian Gothic style, though the interior has been largely redeveloped in recent years. * Consultancy House, 7 Bond St (Category I). A seven-storey 1908 building regarded (by dint of its construction methods) as New Zealand's first skyscraper. *The Chief Post Office Building, 283 Princes St (Category II). The Chief Post Office Building has not had an easy history. Designed by
John Mair John Mair may refer to: *John Mair (philosopher) (1467–1550, also called John Major), Scottish philosopher and historian *John Mair (journalist), British journalist and academic *John Mair (architect) (1876–1959), New Zealand government archite ...
and the Governments Architects Office, construction was severely delayed by the
Great Depression The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty, drastic reductions in industrial production and international trade, and widespread bank and ...
. Originally intended to be built in the early 1930s, it was not completed until 1937. A sturdy and impressive structure, possibly modelled on some of the government architecture in vogue in the United Kingdom during this era, the building held Dunedin's main post office branch until the late 1980s and continued in use as postal offices until 1997. The building remained empty for some time after this. Many plans were put forward for its use, including a hotel, a new site for the city's public library, and offices for either the Dunedin City Council or Otago Regional Council. In 2013, an extensive renovation of the lower few floors began, with
Silver Fern Farms Silver Fern Farms Limited is a New Zealand multinational meat company. It is owned in equal partnership by Silver Fern Farms Co-op Ltd, a cooperative of 16,000 New Zealand sheep, cattle and deer farmers, and Shanghai Maling Aquarius Ltd. The co ...
moving in on the ground and first floors as anchor tenant in February 2014. Later in the decade the interior of the building was further transformed, turning ito a 4-star hotel, the Distinction Dunedin Hotel. * Wain's Hotel, 310 Princes St (Category I). Built in 1879 to a design by Mason & Wales, Wain's Hotel remains Dunedin's grandest hotel building, and reflects the opulence which followed the
Otago gold rush The Otago gold rush (often called the Central Otago gold rush) was a gold rush that occurred during the 1860s in Central Otago, New Zealand. This was the country's biggest gold strike, and led to a rapid influx of foreign miners to the area ...
of the 1860s. The interior has been substantially remodelled, but the exterior's Italianate Renaissance façade remains largely intact. This latter features much intricate work by mason George Munro, notably the figures found carved within the panelled
spandrel A spandrel is a roughly triangular space, usually found in pairs, between the top of an arch and a rectangular frame, between the tops of two adjacent arches, or one of the four spaces between a circle within a square. They are frequently fil ...
s and supporting the façade's
oriel window An oriel window is a form of bay window which protrudes from the main wall of a building but does not reach to the ground. Supported by corbels, bracket (architecture), brackets, or similar cantilevers, an oriel window generally projects from an ...
s. *The
ANZ Bank The Australia and New Zealand Banking Group Limited, commonly known as ANZ Bank, is a multinational banking and financial services company headquartered in Melbourne, Victoria, Australia. It is Australia's second-largest bank by assets and fo ...
Building, Dunedin, 319 Princes St (Category II). Robert Lawson's 1874 Union Bank of Australasia building is the only classical temple form structure in Dunedin. It is a partner to the architect's work on bank buildings in
Oamaru Oamaru (; ) is the largest town in North Otago, in the South Island of New Zealand, it is the main town in the Waitaki District. It is south of Timaru and north of Dunedin on the Pacific Ocean, Pacific coast; State Highway 1 (New Zealand), Sta ...
, and features carved Corinthian columns by Godfrey. The building continued to be used as a bank until 1992, and now houses a night club.


Bibliography

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References

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