“I bought it when Oliver was 12, as a project we could do together,” recalls Clive (Oliver is now 33 and about to buy a house in Brighton).
“We met Ken Costello at the first Costello Gathering in 2008, and we have a picture of him bending over the engine bay giving Oliver advice.
“It wasn’t finished then – we had brought it along on a trailer – but Ken really liked it because it was still so original.”
The MGB GT V8 Costello’s bonnet bulge denotes an earlier MkI example
Their MG still proudly wears its ‘V Eight Costello’ badge on the back and runs factory V8 Dunlop wheels.
I’ve seen Costellos on Rostyles and tasty-looking Mag GT alloys, too.
“It was prepared for racing in the early 1980s,” Clive continues, “and fitted with a spoiler, big flared wheelarches and a Holley carburettor, which we replaced with an Edelbrock. The engine number is just one Ken made up!”
Poke your head underneath at the back and you can spot a Panhard rod and telescopic dampers to better control the Salisbury rear axle, too.
Opening the MGB GT V8 Costello’s sunroof intensifies the noise from the Rover engine
Oliver elaborates on how they found the Costello: “It belonged to a friend of my dad’s, who had owned it for several years and decided to have it restored, but then left the country.
“It was completely in bits when we bought it. We had the bodywork done by Rees Bros Restorations in Aldershot, but did a lot of the other work ourselves. It took 12 years.
“I love driving it. I’ve never driven any other classic car. It’s amazing how small and easy to place on the road it is. And it’s fast!
“We had it tuned, and it was getting 265bhp at the rear wheels. They changed the camshaft, but we’re not sure what else they did to it.”
The MGB GT V8 Costello is more powerful than the factory effort it inspired
Ed Talbot has only had his factory BGT V8 for a year.
He says: “I was looking for a V8 – I had a Lancia Montecarlo when I was younger, but I want to do some touring rallies in this.
“We’ve driven it over the summer and autumn, and it has been fun. It’s understated and not in-your-face, but the V8 engine gives it real-world driver appeal.
“I’d like to get my daughter a normal MGB; they are really affordable and usable.”
The MGB GT V8 Costello has a pushbutton starter
From the driving seats of these big-engined BGTs, you are very conscious of the close proximity of the extremities – the rear window is pretty much the back of the car.
Then there’s the fact that while a wrinkle-finish dashboard looked antiquated in 1973, it has a certain vintage charm in 2026, complete with 1950s heater controls apparently stolen from a Baby Belling stove.
The factory V8 has a smaller speedo and rev counter than the ordinary B, whereas the Costello has additional minor gauges.
The latter’s roll-bar and pushbutton starter are hangovers from its racing career.
The MGB GT V8 Costello’s cabin packs extra dials, including this passenger-side clock
The Costello needs a little more churning than the factory car to turn over, but revs more freely and goes harder through the gears.
It makes all the right feral V8 sounds, while offering overtaking liberties more akin to those of a big motorcycle than a ’70s sports car.
Not that the factory V8 is slow. If 137bhp doesn’t sound like much, the reasons for this little car’s effortless muscle lie in mid-range torque, well-plotted gear ratios and the turbine hum of a silky engine that will get you up the road in a sustained surge that still feels genuinely quick.
This contrasts pleasingly with a limousine quality to the low-speed manners that the Costello cannot quite match, and its overdrive is useful from 40mph.
“I love driving it. It’s amazing how easy it is to place on the road. And it’s fast! It was getting 265bhp at the rear wheels”
The clutch is not the lightest in either car, but has good progression in both cases.
Ditto the brakes – although the factory V8’s stoppers lock up a little too eagerly in the damp – and the throttle action.
It’s almost impossible not to drive the standard V8 smoothly.
If the gearchange, handily placed, is slightly notchy, then the drivetrain as a whole makes up for it by being beautifully refined, which is in contrast to the ride in both iterations: it can be unforgivingly crude, to the extent that you avoid potholes where possible and brace in anticipation when they can’t be circumvented.
This MGB GT V8 Costello’s chip-cutter front grille adds presence
Experience of the ride colours your views of the handling.
In the factory V8 it is by no means poor, but nevertheless lives up to the mental image you have of hard springs, flailing lever-arm dampers and lots of sprung weight doing their worst.
It fights a lumpy, bumpy road rather than flowing with it, breaking the spell cast by that suavely muscular engine.
At least it improves with speed.
Both MGB GT V8s have aged remarkably well and make fine, usable classic cars
Good straight-line stability adds to the impression of a relaxed and easy stride in a car that feels well balanced, hardly rolls and steers fairly precisely, but somehow falls short of feeling truly nimble.
Here the Costello scores. With less weight over the front, a lower ride height and greater power, it is much more alert and biddable, with lighter steering that doesn’t caster back so enthusiastically but turns in more keenly.
Today, 53 years on, the factory V8 feels like a prime example of a car that is a better classic than it ever was a modern.
That said, you have to wonder what people were expecting in 1973.
This big-engined MG is, with some reservations, a delightfully sweet and flexible thing. Likewise the Costello, only more so.
Images: Max Edleston
Thanks to: Clive and Oliver Marchant; Ed Talbot; the MG Car Club V8 Register
MG RV8: the comeback kid
The MG RV8 at its 1992 British Motor Show launch
The stars aligned for a highly unlikely comeback for the V8 MGB in late 1992, when a gap between the discontinuation of the MG Maestro and the arrival of the new MGF roadster would have meant MG disappearing completely from the market.
At the same time, British Motor Heritage had just restarted low-volume production of MGB’s bodyshell, while the Rover V8 remained in production, primarily powering Land Rovers.
Rover Special Products, which had just revived the Mini Cooper after two decades off sale, proceeded at lightning pace to produce a low-volume stop-gap, the RV8, within just two years.
Most of the metalwork was carried over, although new pressings were made for the wings and bonnet to give the car an updated visage.
Its tail-lights were new, too, but made so the same unit could be employed on each side.
The headlights, meanwhile, were Porsche 911 items. Were it launched today, MG would have called it a factory restomod.
The MG RV8’s cabin is luxurious compared to the B GT V8’s
Its interior focused on luxury, with ruched-leather seats and a wooden dashboard, while the chassis set-up reflected that same focus on comfort.
A wider track and modern tyres gave the RV8 greater grip than its 1970s forebears, but many felt that it was too squishy and underdamped, and that it leaned more towards being a casual touring car, rather than a truly sporting one.
Autocar gave it a damning two stars in its 1993 road test, concluding: ‘It is a likeable if seriously flawed car that will certainly appeal to marque enthusiasts. Others may wonder its purpose.’
Even among British-based MG fans it struggled to find much of a market, its £25,440 price-tag putting it just beyond a Morgan Plus 8.
The project was saved by a ready Japanese audience, at that point in the throes of a mania for retro-styled cars in general and British ones in particular.
More than three-quarters of the 1983 RV8s built went to the Far East, although many have since returned.
Words: Charlie Calderwood
Factfiles
MGB GT V8
- Sold/number built 1973-’75/2591
- Construction steel monocoque
- Engine all-alloy, ohv 3528cc V8, twin SU carburettors
- Max power 137bhp @ 5000rpm
- Max torque 193lb ft @ 2900rpm
- Transmission four-speed manual with overdrive, RWD
- Suspension: front independent, by wishbones, coil springs rear live axle, semi-elliptic leaf springs; lever-arm dampers f/r
- Steering rack and pinion
- Brakes discs front, drums rear, with servo
- Length 12ft 9in (3886mm)
- Width 5ft (1524mm)
- Height 4ft 1in (1245mm)
- Wheelbase 7ft 7½in (2324mm)
- Weight 2387lb (1083kg)
- 0-60mph 8.6 secs
- Top speed 125mph
- Mpg 20-25
- Price new £2309
- Price now £30,000*
MGB GT V8 Costello
(Where different from factory car)
- Sold/number built 1970-’73/220 (including 30 roadsters)
- Max power 150bhp @ 5000rpm
- Max torque 201lb ft @ 2750rpm
- Weight 2292lb (1040kg)
- 0-60mph 7.8 secs
- Top speed 128mph
- Mpg 18
- Price new £2392
- Price now £35,000*
*Prices correct at date of original publication
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Martin Buckley
Senior Contributor, Classic & Sports Car