Exchange Flags is a Grade II listed building in Liverpool, England.

The courtyard faces Liverpool Town Hall and contains the Nelson Monument.

[3] The bunker was closed on 15 August 1945 after the end of the war but was re-opened in 1993 as the Western Approaches Museum.

[6] The site was purchased in the late 1980s by Liverpool businessman Bill Davies, the former owner of Aintree Racecourse.

Shelbourne Asset Management bought the site in 2017 for £42m and sold it to its current owners, Ashtrom, for £68m in August 2019.