 It is bounded by Cheapside to the north, Bread Street to the east, Watling Street to the south, and New Change to the west.Within the centre, the north–south arcade is called Cheapside Passage and the east–west arcade is New Change Passage.The shopping centre is located in an area of London's historic nucleus that was widely known for its retail – 'Cheapside' being Old English for "market-place" – and many of the roads around One New Change are named after the produce once sold in the area, such as Poultry, Honey Lane, Milk Street and Bread Street.