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£20 maybe. I would wait for a Raleigh (BSA etc) 20, Dawes Kingpin and even Halfords made a Twenty if you're willing to spend over £50. They're the sort of bikes that come up on Freecycle quite regularly too. If you're in no rush wait until the new year then the prices on ebay are lower (fewer bikes but lower prices).
Constable_Savage
The guy's local to me, and said £60 cash in hand... what's the verdict [on the bike]?
http://www.ebay.co.uk/itm/252124101229