Love these projects. My Raleigh was similar, rescued from a garden hedge, the BB and headset had been packed with marine grease, the seatpost and stem came free easy enough, but the steel wheels and drops where too far gone, new wheelset and some parts bin bits and new cables and had 5 years out of it. Only last year did i strip back the forks and parts of the frame as paint bubbling was very bad, but caught it in time, forks came up nicely and no heavy pitting elsewhere.
Goodluck with the rebuild :)
Frame looks tidy enough.
Love these projects. My Raleigh was similar, rescued from a garden hedge, the BB and headset had been packed with marine grease, the seatpost and stem came free easy enough, but the steel wheels and drops where too far gone, new wheelset and some parts bin bits and new cables and had 5 years out of it. Only last year did i strip back the forks and parts of the frame as paint bubbling was very bad, but caught it in time, forks came up nicely and no heavy pitting elsewhere.
Goodluck with the rebuild :)