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Nice find . i used to have one years ago , you will find 2 sets of pulleys in the top with a belt you can move for different speeds as well.

find yourself a good vice to bolt down and you're away...
 
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Can't go too far wrong for 20 quid. They're not too bad for light home-workshop/DIY use. They sell a similar 1/2 HP Ryobi one in most of the tool places around here which is the equivalent of about 40 quid brand new. I never figured out how they can sell them so cheap, even to buy a generic 1/2 HP single phase motor costs more than they charge for the entire bench drill.
 
Be careful of the start switch. I've got the same drill, and it sticks in quite often. Need to jiggle it a bit to allow it to release, otherwise the stop switch has no effect at all !! Good drill though for the money. Daz
 
Not really. I think £20-£30 is a fair second hand price. Daz

Not really what I was getting at.....having lost a number of power tools to van break-ins over the years I'm always dubious of where good quality power tools at boot fairs have come from.
 

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