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Thanks Beejay & Chris. 

The seller was on the right lines then when he said "HPI? No, not HPI" - but he got the 'H' right and the fact it was initials, not a name.

Not too worried about it not being a performer as it looks great and I'll just run and tinker with it at home. 

Since you identified it I have found a tech. spec. that mentions a traction magnet but there isn't one - and I see no evidence that there ever was, thankfully.