Bikes in good condition only fetching £130-150 so not worth going to deep with it.
That's one way to look at it. The other way to look at it is that when restored/fitted with modern/new parts where applicable, you will have a very decent steel road bike at a fraction of the cost of a new one, so it can be a good investment if you don't intend on selling it on.
When I first got my Dawes I started by just getting it on the road as cheap as possible. After I had been riding it for a while I realized how nice the bike really was to ride and started investing more money in parts that would improve the bike (new derailleur, new tires etc).
I can send you the link to a new set of low end/entry level, yet perfectly serviceable aluminium wheels (I run them on my commuter with no issues) that at only £45 are quite reasonable, if you are interested (and I can find the
eBay page again!).
A pair of
Vittoria Rubino tires are good quality and are only £11 per tire, so would be ideal if you're not wanting to spend lots of money on the bike, you'll probably need new inner tubes as well which can be bought in pairs on eBay for about £7.
If you're not wanting to spend £20 on modern gear and brake cables (Clarks cables £5 each from
Halfords) then Asda sell a cable set for £4! They're bowden style cables (so not like the fancy modern gear cable) and not plastic lined on the inside, but that doesn't really matter for non-indexed systems like I suspect this is. Just remember to thoroughly lubricate the cable with a grease or thicker oil.
The Clarks road pads from Halfords for £5 a pair give reasonable stopping power on alu rims, although take a little while to bed in (and squeak until then). Alternatively I've found these
Ashima pads to be very good, at only £6.
Hope some of this helps, and just ask if you need any recommendations on replacement parts!
We'd also love to see some more pictures, especially pictures at different stages throughout the restoration, and the finished product.
