A multimillion-pound bike factory is set to be given the green light - despite the company behind the scheme seeing its profits plummet by more than 99%.

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

Bosses initially hoped the firm would move out of its current base in London and into the town by 2027.

The ambitious proposal - which has already been delayed by two years because of the “weak economic climate" - is set to get the thumbs up from planning members at Ashford Borough Council (ABC) next week.

Planning officers have recommended the £100 million project be approved by members at a vote on Wednesday.

However, a question mark now hangs over the plan after the company reported pre-tax profits of just £4,602 for the 12 months to the end of March 2024, down from £10.7m in the previous year - a fall of more than 99%.

Chief executive, Will Butler-Adams, told the Financial Times its drop in sales had been driven by a tough economic climate and “challenges in the cycling industry”.

Despite adding the company is "over the worst of it", it has left the Ashford project facing an increasingly uncertain future.

It comes as the application has faced concerns from the Environment Agency (EA), which has objected to the proposal.

The public body says the scheme, which is earmarked for a 100-acre Zone 3b floodplain, poses a flood and loss of habitat risk.

Flood Zone 3b is land known as a functional floodplain, meaning it is designed to store or allow water to flow through during flooding.

Brompton's scheme would therefore be at high risk of flooding given its position next to the East Stour river, but the company says that would be avoided by building the site on stilts.

Flood-led objections to any proposal on Zone 3b floodplain mean a planning application has to be sent to the Secretary of State for Housing, Communities and Local Government, Angela Rayner.

It means members of ABC's planning committee will make a decision on the application next week before they notify Ms Rayner, who will decide whether the application can be left in the hands of the authority or instead called-in for consideration.

Should the factory be given the go-ahead, artist's impressions show it would feature wide paths for cyclists and pedestrians to go straight into the facility, which will also have a visitor centre, museum and cafe.

But Brompton, which is working with architects Hollaway and Quinn Estates on the project, says the factory will not come with any parking spaces.

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

In response to this, in 2023, 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.

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.

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In July, Mr Butler-Adams said a downturn in cycling meant the scheme is being delayed by “about two years”.

“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 said.

Brompton “declined the opportunity to comment” this week but thanked KentOnline “for getting in touch”.