The cancer centre would be part of wide-ranging changes to the Royal United Hospital in Bath.Read more
Sir James Dyson
CEO Jim Rowan said the new location would be "a hive for our research and development endeavours".
The firm, headed by British inventor Sir James Dyson, said in January that it was moving its HQ out of the UK to Asia.
Sir James, a prominent advocate for Brexit, was accused of hypocrisy after the move.
BBC Radio 5 Live
Wake Up To Money
Dyson, the technology company best known for its vacuum cleaners, has scrapped a project to build electric cars.
The firm, headed by British inventor Sir James Dyson (pictured), said its engineers had developed a "fantastic electric car" but that it would not hit the roads because it was not "commercially viable".
Anna-Marie Baisden, head of autos at Fitch Solution, tells Radio 5 Live Wake Up To Money that she is not surprised, citing the problems Tesla has faced in ramping up production.
"I think for them to pull out at this stage, realising how difficult it's going to be to make money, there are very small margins if any in electric cars at the moment, it's not a big surprise".
"You do have to put a lot of money into developing an electric car, the technology's still very expensive" she said.
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.