Vacuum cleaner billionaire Sir James Dyson is buying a prime Fitzrovia property portfolio for £130m – a sub-3% yield.
The mogul, ranked 14th in the Sunday Times Rich List with an estimated fortune of £7.8bn, fought off competition from rival bidders for The Village, a collection of 13 buildings in London, and two other properties in Oxford and York.
The Village portfolio generates a rental income of about £3.5m and is currently held by LCH Group, which Weybourne Group, a subsidiary of Dyson, will acquire in a corporate deal.
While Dyson is known for his bagless, cordless and robotic vacuum cleaners through his eponymous engineering company, he also owns 25,000 acres of property. He employs 8,000 people, including 3,000 at a campus in Malmesbury and plans to spend £2.5bn on an artificial intelligence research centre on a former RAF base near his Wiltshire headquarters.
Coffer Corporate Leisure is advising the vendor. All parties declined to comment.
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