Dyson sells building to raise cash

DYSON – the Yorkshire-based high-tech materials specialist – has announced it has exchanged contracts for the conditional sale of its freehold land and buildings at Fulwood Road, Sheffield.

The site is currently used as the group’s registered office and is being sold for £1.4m.

The property was stated in the group’s last interim accounts at a value of £1.25m.

The contract is conditional on shareholders’ approval and the proceeds of the sale will be used for current working capital requirements.

The staff employed at Fulwood Road will relocate to the company’s premises at Baslow Road in Sheffield.

The company designs, develops and manufactures high-performance materials for a wide a range of applications and operates on a global basis.

Earlier in the year Dyson announced that it was to focus on three core market segments, namely automotive emissions, industry (ceramics, glass and steel) and energy (oil, gas, nuclear and petrochemical).