It's the offspring's new steed. Once it's completed it should be a lovely thing.
Frame set courtesy of Cervelo sponsorship with Bank of Mum & Dad for most of the the rest. He already had the Zipps (he's got a set of 404s and a rear disk) and the Pro Missile bars with VisionTech brake levers. The saddle is a temporary jobbie until his new one arrives. Also getting him some bog-standard wheels to use as training wheels, to keep the Zipps for competition use. University have given him a sports' bursary, so some of the funding has gone towards bits & bobs too.
Father & Son have been doing a spot of male bonding, fettling together in the garage building it up.