Speedwell was a brand of bicycle manufactured by Bennett & Wood, a firm established by Mr. Charles W. Bennett and Mr. Charles R. Wood in 1882 in Sydney. As motorcars and motorcycles became available Bennett and Wood entered the motor trade. They built and sold the Speedwell bicycle and the Speedwell and Acme motorcycles. The Speedwell motorcycle was built in the early 1900s.
Bennett and Wood were accomplished penny-farthing enthusiasts and racers. They were heavily involved in bicycle racing in the Sydney area prior to opening a bicycle shop; Mr. Bennett was the intercolonial and NSW champion (1883, 1885). Mr. Bennett was a member of a Speedwell bicycle club in England prior to arrival in Australia and for a time raced as a member of that club. He and Mr. Wood were involved with the Speedwell bicycle club in Australia, the Cyclists Union of NSW (as competitors and promotors of bicycle racing) and later the League of Wheelmen. The business opened up in 1882 in a humble premises in Clarence Street, in a single fronted two-storey warehouse.
Initially they imported and sold machines such as the Rover and Raleigh but they soon commenced local production. Examples of penny-farthings marked Speedwell exist however it is unknown if they were locally made or imported. The partnership between Bennett and Wood ended in 1887 with Mr. Bennett taking ownership of "Bennett and Wood".
As safety bicycles began to emerge and become popular Charles Bennett was one of the first in Australia to embrace the new machines and offer them to the public. The business thrived and grew. 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. These premises were supplemented by workshops in Clarence Street an additional premises in King Street. In 1899 Royal Speedwells were advertised as being made by the Rover Co. Ltd. By the earliest days of the twentieth century Bennett and Wood were manufacturing their own bicycles under the name Speedwell with the Royal Speedwells being the highest quality bikes built. On 1 January 1901 Bennett & Wood Ltd. moved into their new premises, 53 and 55 Market 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. The ever-growing popularity and output of Speedwell cycles again rendered it necessary for the company to seek more room. Speedwell were always supportive of bicycle racing in Australia, donated Royal Speedwells to race winners, and sponsor races (the Speedwell Cup ran from 1906 till at least 1955).