Matthew SparkesIt costs more than most people spend on a family car, only carries one person and does not even have space for groceries.But thanks to its Formula One heritage those with deep enough pockets have been eagerly awaiting this locally-made vehicle.Matthew Sparkes

It costs more than most people spend on a family car, only carries one person and does not even have space for groceries.

But thanks to its Formula One heritage, those with deep enough pockets have been eagerly awaiting this locally-made vehicle.

And now the world's most expensive bicycle, designed and built in an unassuming Norfolk workshop, has finally gone on sale in Harrods for the staggering sum of �30,000.

After being unveiled last year at the British Science Museum, the Factor 001, from Diss-based engineering firm Beru F1 Systems, is now being exclusively sold by the famous London department store.

Beru F1 Systems usually manufactures parts and components for the motor racing industry, but recently turned its attention to creating a hi-tech bicycle.

Weighing a mere 7.4kg, the Factor 001 has a carbon-fibre frame and wheels, electronic gears and hydraulic disc brakes, and almost every part of the bike is designed and constructed in the region. Each one is custom-made to fit the owner after a visit to Loughborough University to be carefully measured by cycling experts.

And, as if that was not enough, the customer can even choose which colour the bike is finished in.

But with a price tag of between �25,000 and �30,000, depending on optional extras, it is likely that only top athletes will be picking one up.

And for them it could be an invaluable training tool, thanks to its electronic monitoring system.

Using similar sensors as race cars, the bike can record more than 100 measurements to do with the rider's performance, health and pedalling style.

This will enable professional cyclists to finely tune their training and extract every last bit of speed.

John Bailey, managing director of Beru F1 Systems, said that the company was in talks with several professional cycling teams, but could not divulge which ones.

To ask about buying a Factor 001, call Harrods on 0207 730 1234.