Aldi is selling a folding bike for £300 – but if you want one, you’d better act quickly!

Aldi is selling a folding bike for what sounds like a bargain price of £299.99 under one of its Special Buy offers – and given the explosion in demand we’ve seen for bicycles in recent months, if you want to get your hands on one, you’d better act quickly.

Exclusively available online, the bike can be ordered now with dispatch due this Thursday 6 August.

Available in black or grey and with 20-inch tyres, the bike, which has an alloy frame, folds down to 86 x 75 x 46m.

Features include mudguards, a suspension seatpost, 7-speed Shimano gears, front and rear lights, a rear rack, folding pedals, a kickstand, a pump, a bell and a carry bag. Aldi says that some assembly is required.

Here’s what the German discount chain says about the bike:

Up your fitness levels whilst doing your bit for the environment when you take a ride on this Classic Lightweight Folding Bike!

This clever bike features 7 speed Shimano gears, 20'' tyres, pump, battery lights at the front and rear for safety and a padded saddle for comfort and is fully equipped with mudguards to ensure dirt on your travels is not a problem.

Once you have arrived at your destination, simply fold it away easily and pack it into the included carry bag and place under your desk or next to you on the train for the ultimate convenience.

Say hello to the future of commuter transport!

The bike is subject to a large item delivery charge which Aldi says starts from £6.95, adding: “Delivery will be within 2-7 working days from order date unless your order contains a pre-ordered item.

“Pre-orders will be delivered in 2-7 working days from the item’s estimated dispatch date.”

Head here to pre-order and good luck – we’d expect this offer to sell out very quickly.