If you have ever paid a visit to Dundee’s Exchange Street, you will know there is something special about it.
This is partly down to the charming cobbled street, its rich history and the twinkling fairy lights.
But an even bigger reason is its success at attracting thriving independent businesses, including restaurants, hair salons and coffee shops.
Recent research by The Courier shows that Exchange Street has one of the highest rates for independent businesses in Dundee city centre, with more than 90% independent.
Only one unit on the street is occupied by a chain.
It also has one of the lowest high street vacancy rates, with only two empty units currently.
So, what’s the street’s secret?
We speak to business owners on Dundee’s Exchange Street and find out why this pocket of the city centre is bucking the trend.
The Selkie
The Selkie, which serves a range of tapas and cocktails, was opened on Exchange Street by owner Kelly Fairweather in 2020.
She has since opened a second venue in Broughty Ferry.
Kelly and husband Paul also run Edna Mae on Exchange Street, which originally opened as a bakery but now operates as an events space.
Kelly said: “When we opened The Selkie, I wouldn’t say Exchange Street was the same street it is now.
“I feel like it has become a destination.
“The council gave us some funding for fairy lights which just makes the street a really nice spot.
“We are supposed to be getting street furniture in the next year as well.”
Earlier this year, an illuminated street sign and decorative lights were suspended between buildings on Exchange Street by Dundee City Council in a bid to attract more people to the businesses operating in the street.
It is part of a long-term campaign to improve the city centre.
Kelly says the waterfront development has also improved business, with a substantial increase in tourists visiting the street during the summer.
‘Businesses on Exchange Street compliment one another’
One benefit to working alongside so many other independent businesses is the opportunity to “cross-pollinate with one another”, Kelly says.
“We are not in competition. Instead, we complement each other.
“For example, The Cheesery is always queued out the door, it is always busy – and then people will come over to me for lunch, or they will go to the Flame Tree for lunch.
“Personally, I’ll often take my laptop and go and sit in Daily Grind or the Flame Tree, if I’m just trying to get work done.
“Sometimes people think there has to be animosity in business, but there isn’t any on Exchange Street.
“We have had a couple of break-ins at The Selkie and other guys on the street have been like, ‘How can we help? Is there anything you need?’
“And that is what makes it quite unique and quite different.”
As one of the oldest streets in Dundee, there is also the matter of Exchange Street’s rather varied history.
Located near the harbour, it was traditionally used by sex workers looking for seafarers and kerb crawlers.
It also sits above Dundee’s vaults, which date back to the 1750s and lay hidden until they were discovered in 2000.
Kelly said: “There is so much history in this little street.
“But, I’m convinced there’s ghosts here as well. If I’m in the shop in my own, I’m convinced I see them. My husband says I’m crazy.”
Family-run businesses on Exchange Street have ‘strong social conscience’
“I can’t emphasise how much that little street does for the wider community.
“There is a strong social conscience among the businesses – most of which are family-run.
“The Selkie does lots of family nights where we give out free community meals.
“We have given out more than 4,000 meals since we opened.
“The Flame Tree Cafe even opened up on Christmas Day, inviting anyone to pop in for a free meal.”
“There is a lot of pride in the street. I wash down the front of my shop every day, I know that other people do as well.
“Obviously I am biased – I’ve got two shops on Exchange Street – but I love it. I feel very lucky to get to work there.
“I hope that Exchange Street continues to be a really strong destination and that the independent traders that are here continue to thrive,” she said.
“Whether it is the cross pollination, the geography, the history – whatever it is, something works down here.
“There is just something a wee bit magical about it.”
The Cheesery
Just a few doors down from The Selkie is The Cheesery, which was bought by wife and husband team Hilary and Stephen Barney in 2016.
Since then, they’ve opened a second store in Broughty Ferry and gained a loyal customer base.
Hilary agrees with Kelly that the street has transformed in recent years.
She said: “Over the eight years we have seen a lot more thriving independent businesses. It has been great that Vandal & Co have moved in, as well as The Selkie.
“There has just been more buzz about it really.
“It has been nice to have the new fairy lights as well.
“We will really see the benefit of that in the winter months when it gets to be dark a wee bit earlier.”
She adds that the higher occupancy rate on Exchange Street means that “it never feels like a ghost town”.
“There are some parts of Dundee where more businesses are closed than open, and it just feels a bit quiet.
“But Exchange Street always has a bit of footfall going on.
“There is just a couple of empty units currently.
“It would be nice to see some interesting independents move into them.”
The Cheesery also collaborates closely with its neighbours, supplying cheese to Daily Grind, across the road, as well as The Wine Press, situated around the corner on Shore Terrace.
“The Wine Press is a really good feeder business for us because they use our cheese,” Hilary says.
“So people might go and have a glass of wine and a cheese board, then love a certain cheese or a couple of cheeses, and then come visit us to buy more.”
If there is one downside to running a business on Exchange Street, she says, it is the limited access to free or affordable parking for customers.
“We have a lot of customers that come into the city just to visit our shop, so for them to pay a few pounds to park at one of the nearest car parks is quite a lot,” she said.
“A wee bit more support from Dundee City Council in terms of parking would be appreciated – maybe a £1 shopping day ticket could be made available or something.”
The Flame Tree Cafe
Jackie Cannon, who opened The Flame Tree Cafe on Exchange Street in 2015, said: “There has always been a nice mix of independents.
“All of the businesses in this street complement each other as well.
“It is nice for independents to be surrounded by other independents and not chains – it means that there is a strong community feel.”
What sets the street apart from others in Dundee?
She said: “A lot of the businesses are quite well-established.
“There is a longevity of the businesses here which is a nice thing for the customers.
“It is nice for the city, when there is so much change, to have a pocket of consistency.”
But she noted that the cafe has had to work hard to generate it’s own footfall over the years.
She said: “Being tucked away slightly, we don’t just have people stumbling across us.
“We do have to work hard to get a reputation and our clientele.”
But, she says, this issue has improved since the waterfront development, which has increased footfall in the area.
Vandal & Co
Jonnie Armitage, who opened restaurant Vandal & Co on the street in 2021, believes it is the variety of retailers which makes Exchange Street so great.
Why does he think it attracts so many independent businesses?
“I would imagine it’s because of the size of the property, most properties on the street are small, which makes them easier to manage,” he said.
“Chain restaurants and other types of businesses generally look for prime locations with larger floor plans – something that isn’t available on Exchange Street.”
Dundee Matters
The Courier recently launched an initiative called Dundee Matters, which aims to find solutions to the city’s problems.
We will be hosting a summit at our city centre office in May, where a panel will explore issues facing our high streets at an event full of people invested in the future of Dundee.
Conversation