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how cheap would the car have to be in order to still make it viable?
Depends how much money you have to spend I guess. Surely it's just what you want to spend in total on a car less the cost of doing the work.
Maybe I'm getting duller, but I don't really understand why you'd buy an old estate and drop loads of £s on it when there are plenty of semi-old estates you could just drive into the ground.
@hugo7 Should be. Last question, I suppose, is how cheap would the car have to be in order to still make it viable? I suspect it would need basically everything that could be termed "consumable" changing, including all bushes etc, which is going to be £much.
Also, it's rusting. That's consistent with being stood somewhere for a long period I suppose, question is can it be treated or is this fit for nothing but the breakers yard?