Mayor hails venue’s 'remarkable' change

A North Tyneside cultural hub is celebrating after being named ‘Business of the Year’ at the North Tyneside Business Awards 2024.

The Exchange 1856, in North Shields, welcomed Dame Norma Redfearn, mayor of North Tyneside, and Michael James, chair of the North Tyneside Business Forum, for a tour of the award-winning venue, which has seen bookings surge from 60 per quarter to 60 per month.

Michael said: “The Exchange 1856 is a worthy winner of the accolade. 

“I was very impressed by the team’s vision and the transformation of the building into a thriving cultural and business venture.”

At the heart of North Shields Cultural Quarter on Howard Street, The Exchange 1856, a Grade II-listed building that was once the Saville Exchange, has become “a central part of North Shields’ regeneration”, offering events, weddings and creative opportunities, supported by a team of 40 staff.

Paul Stonebanks, owner of The Exchange 1856, said: “I knew this building had incredible potential. 

“It was underutilised, but with the right investment and vision, I believed it could become something truly special. 

“The transformation has been incredible, and now The Exchange 1856 is not only a stunning space but also a successful and sustainable business.”

Mayor Redfearn also praised the venue’s transformation.

She added: “The Exchange 1856 is a shining example of how investment, vision and community engagement can create something truly remarkable. 

“It’s fantastic to see how it has evolved into a vibrant and welcoming space for all.”

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