In a press release issued at 2pm Friday, Raleigh’s new MD has announced that more modern premises would be sought.

Raleigh and Sturmey Archer’s Triumph Road sites have been bought by the University of Nottingham for redevelopment. In a press statement new MD Phillip Darnton said Raleigh would be seeking to relocate to a new purpose-built factory at a Nottingham location not mentioned in the release.

“This will enable us to…become more cost effective and competitive,” he said.

The press release said that the sprawling Triumph Road site had a variety of uncoordinated and largely unplanned buildings more suited to an earlier age.

“Old buildings such as those we have occupied for decades are no longer appropiate to today’s production processes,” said Darnton.

The Triumph Road complex at one point consisted of 75 acres of Raleigh buildings. The site just sold was just 21 acres (including the 8.5 acre Sturmey Archer site).

The release states that Raleigh has up to four years to relocate.