Dundee-based plumber Adrian Price has embarked on an impressive entrepreneurial journey, converting a historic city center building into a thriving hub of over 100 serviced offices. Price, who has run a successful plumbing and heating business for two decades, has now teamed up with global office giant Regus to breathe new life into the former Royal Exchange building.
After dipping his toes into the residential buy-to-let market in Dundee and Arbroath, Price recognized the potential for commercial property investment. His first foray into the commercial space was the acquisition of Spalding House in Broughty Ferry last summer. Eager to expand his portfolio, Price jumped at the opportunity to take on the Royal Exchange building in the heart of Dundee’s city center.
Investing nearly £500,000 into renovations, Price has transformed the listed building into a modern, flexible office space. Partnering with Regus, the offices are now available for rent, with the potential for over 100 workspaces. The building boasts 14 offices and two meeting rooms, with the upper floors still under development. Plans are also in the works to create a state-of-the-art business lounge, which Price believes will “break the mold for Dundee.”
“After Spalding House, I knew I wanted to do another commercial project, a bigger one,” says Price. “When the opportunity came to buy this building, I jumped at the chance. There’s so much potential.”
The Regus partnership allows tenants to access the company’s 4,000 global locations, while also bringing the potential to attract larger businesses to Dundee. With the offices already 70% occupied, and ongoing tours and discussions, Price is confident that the Royal Exchange will become a thriving hub of commercial activity in the city.
“Regus works with lots of big businesses and I hope they can help attract companies to Dundee,” he adds. “What is going to make a big difference is the new business lounge, which will be state-of-the-art. It will break the mold for Dundee.”
From his humble beginnings as a local plumber, Adrian Price has proven that with a keen eye for opportunity and a willingness to take calculated risks, one can transform their career trajectory and make a significant impact on the local business landscape.
