Ambitious plans for a multimillion-pound bike factory have been delayed by two years because of the “weak economic climate”, bosses say.

Brompton Bicycle announced plans to build a huge HQ and factory on stilts on land close to Ashford Designer Outlet in 2022.

The company had hoped to move out of its current base in London and into Ashford by 2027, but the timeline has now been delayed.

Speaking to the Financial Times, the chief executive of the company Will Butler-Adams says while the move is still on the cards, progress will not be seen any time soon.

Mr Butler-Adams said: “If we get planning permission in the next six months, we’re not immediately going to start building because the [economic] climate is too weak.”

He also confirmed a downturn in cycling means the scheme is being deferred by “about two years”.

A planning application for the factory, set to be built over three phases, was submitted to Ashford Borough Council (ABC) in December 2022 and is yet to be approved.

Artist's impressions show there will be wide paths for cyclists and pedestrians to go straight into the facility, which will also have a visitor centre, museum and cafe.

The land is currently unused and is part of a 100-acre floodplain, but Brompton says this is not an issue as the factory will be built on stilts, provide an opportunity to restore the wetland and has been designed to work in harmony with the landscape and support biodiversity.

This is not the first time the project has faced delays.

National Highways says it needs more information on how the facility will affect the strategic road network, particularly within the vicinity of the M20 and A2070, before it can comment on the scheme.

As a result, it has advised ABC to delay making a decision until at least September 13 so Brompton can supply extra details.

This is the fifth time the road authority has asked for more information from Brompton, which is working with architects Hollaway and Quinn Estates on the project.

Despite the vast development, it won't come with any parking spaces.

The idea is that staff and visitors will be encouraged to walk or cycle, but transport assessments carried out by Kent Highways say options for those with no choice but to drive should be considered.

In response to this, last year, Brompton said it was in discussions with HS1 Ltd – the owner of the multi-storey facility previously used by Eurostar passengers – and Ashford Designer Outlet to see if the company can share their car parks.

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Staff would be allowed to park in the Outlet’s south car park directly next door, but on busy shopping days, they could instead be encouraged to park a mile away at the large NCP-run multi-storey at Ashford International station, and walk or cycle the rest of the way.

If approved, the company aims to employ more than 1,500 staff but once fully operational, this is expected to rise to 4,000.