More than half a million MGBs were built in Abingdon before the factory closed in 1980. The most popular sports car of their day, they are cherished by their owners to this day.

But what if a car combining the look and feel of the original with the handling and performance of a modern sports car could be made?

That was the task Tim Fenna took on to mark the 50th anniversary of the MGB and now the results can be seen at the headquarters of his company, Frontline Developments, based in Steventon.

Mr Fenna said: “It is our 20th year as a company and I was looking to do something that was a celebration of that as well as marking the MGB anniversary.

“I spoke to the MG Car Club, told them I wanted to build a new MGB and they were delighted with the idea.”

Mr Fenna then approached Witney-based British Motor Heritage which owns the rights to the MG name as well as building body shells and again was met with a highly positive response.

The LE50 is essentially a modern sports car in a classic shell. It has a two litre Mazda engine and gearbox but the rest of the components are British and of course assembled by hand to the strictest quality controls.

The result is a car that can accelerate to 60mph in 5.1 seconds, has a top speed of 160mph and can still return 40 miles on a gallon of petrol in everyday driving.

Compare those figures to the old MGB which took more than 12 seconds to reach 60mph with a top speed of 108mph, then you realise how far the car has evolved in the hands of Frontline. Significantly, the car is also 40kgs lighter.

Frontline was founded by Tim and Sally Fenna in 1991.

Mr Fenna had studied engineering at Bristol Polytechnic but in his spare time he drove and worked on his Mk IV Austin Healey Sprite which is identical to the MG Midget.

But he suffered five gearbox failures in just 18 months. Rather than keep forking out for even more replacements, he decided to make his own, as he was helping his father Bill run a vehicle restoration company.

The result was a rugged five speed gearbox which seemed to solve his problem. He then contacted Practical Classics magazine to test it and the review was suitably glowing to the point that orders for the gearbox started to come in.

He explained: “I sat down and decided that rather than getting a job, I would set up my own company.”

From the beginning Mr Fenna focused on restoring classic MGs as well as Triumphs and Austin Healeys from the golden age of British sports cars in the 1960s.

And not only are these cars restored to their former glory, Mr Fenna can also make them better than the originals using modern engines and equipment allowing them to compete with and in some cases outperform their modern-day equivalents.

Mr Fenna explained: “I have owned so many modern cars and I have never enjoyed any of them. But a classic can be altered to suit your needs.”

He learned his trade as he went along, asking experts if he could work with them to pick up tips and slowly growing the company. The result is that he is now a ‘whole vehicle’ specialist, a master of all trades who can just as easily tweak the suspension of your classic car as upgrade the brakes.

Mr Fenna was joined by sales and marketing specialist Ed Braclik five years ago. Mr Braclik was an existing customer and became Mr Fenna’s business partner, focusing on developing the company’s customer base.

Once that was achieved, the company moved to bigger premises in Steventon and now employs 12 staff.

But it is this year that the company is really hitting the headlines with the launch of the MG LE 50.

The first car is being sent to a car collector in Miami but Frontline is no stranger to the export market with customers all over Europe, Japan, Australia and even Singapore — a measure of the appeal not only of British sports cars but the company’s quality and attention to detail.

Mr Fenna said: “Some come and visit us here and tell us what they want while others simply e-mail their specifications and we build the car and send it to them without them actually seeing it.”

The second LE50 has been ordered with cruise control and special seats. Purists may argue this is not quite in the MG spirit but Mr Fenna would argue that the car, famous for its faults and questionable build quality, is finally reaching its potential.

Mr Fenna wanted to produce a car that was comfortable for everyday use while still retaining the fun element on A and B roads which were the original car’s spiritual home and that he has delivered.

The LE 50 is available to order from £49,900, plus VAT.