Sir James Dyson

Second Singapore residence for Sir James Dyson


Sir James Dyson is poised to purchase his second luxury property in Singapore, according to a report in the Straits Times.

It says that the property - marked at about about $45m Singapore dollars ($33m, £26m) - has an infinity pool and indoor waterfall.

The purchase comes after his company, best known for its vacuum cleaners, moved its HQ from the UK to Singapore.

Earlier this month he bought what is thought to be Singapore's biggest and most expensive penthouse flat. Singapore's Business Times reported at the time that Sir James paid $73.8m Singapore dollars ($54m, £43m) for the "super penthouse", which has views of the city's Marina Bay Sands and the financial district.

Start of the great migration?

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Sir James Dyson insists that Brexit is not behind his decision to move his company's headquarters to Singapore - but it is certainly the reason for Sony shifting its HQ to the Netherlands.

And now The Times reports that the Netherlands is trying to lure 250 companies to the country following the UK's departure from the European Union.

Paul Hodges, chairman of Ready for Brexit, tells Wake up to Money: "If we take James Dyson at face value, what he is saying is that the core of his business for the future is going to be in Asia, that's where the market for electronics and so on is and therefore his management team needs to be there so they keep a close eye on the markets."

He says: "What I understand Sony to be saying is 'look we came to the UK because that gave us access to the 500 million in the European Union'.

"That's looking less likely that after Brexit we will have that access so there was no point coming to the UK if we can't have that access so we need to think about moving somewhere else."

Dyson 'will continue to invest in UK'

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Sir James Dyson

There is plenty of reaction both in the newspapers and on Twitter today about Sir James Dyson's decision to move the company's head office to Singapore, including this typically descriptive remark from novelist Robert Harris:

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But Will Walker-Arnott, senior investment director at Charles Stanley, tells Wake Up to Money: "The first announcement was actually made back in October 2018 when he decided that they were going to start making an electric vehicle and they decided that that was going to be centred in Singapore - its manufacturing has been based overseas since 2003."

He says: "In the UK, it was really where the research and development is founded and that will continue and Dyson has made a statement saying that he will continue to invest in the UK."