The business opened in 1882 in a humble premises in Clarence Street, in a single fronted two-storey warehouse.
[4] As safety bicycles began to emerge and become popular, Bennett was one of the first in Australia to embrace the new machines and offer them to the public.
After making various extensions to their original premises, the business had grown to such an extent that in 1897 it was found necessary to erect a new four-storey building at 397 George Street.
It was only a short time, however, before expansion compelled the firm to occupy Pike's stores at the rear of the Market Street building and also premises in other parts of the same block.
In 1908 the head office of the company was transferred to the large building at the corner of Pitt and Bathurst Streets, designed by the Sydney architect Henry Austin Wilshire.
This opinion was altered very quickly and the company doubled its frontage in Pitt Street by purchasing the adjoining block.
[7] After World War II Bennett and Wood's cycle manufacturing plant was located in the Pitt and Bathurst Street building, but as production increased, a more spacious factory had to be obtained for this section of the business.
The new factory in Redfern was state of the art with in-house chrome plating, painting, a canteen and full time first aid staff.
In 1965, they sold the Speedwell brand to General Accessories, the owners of their once great Melbourne based rival Malvern Star (purchased in 1958 from Bruce Small).
[7] Other Speedwell World Championship riders of the time were:[9] In 1932 Speedwell rider Edgar "Dunc" Gray won the Olympic time trial by covering a kilometre (1094 yards) unpaced from a standing start in 1 min 13 seconds at Los Angeles, USA.
During his long career Gray represented Australia in three Olympic Games, his other appearances being Amsterdam in 1928 and Berlin in 1936.