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Thanks all. Looks like it's worth a shot trying to swap the new hub straight in.
I know it's a bit ridiculous to worry about weight with a 1kg hub on a steel bike with front and rear racks and metal mudguards...but still, that pre-built wheel has a 700g rim and I'm guessing it may have plain gauge spokes too...
The hub can be had new for £90 so I'm going to go for that, and either do my best to swap it in or get a bike shop to do it if I mess it up.
Cheers!
https://www.ebay.co.uk/itm/New-Sturmey-archer-SRF5-W-hub-wheel-sputnik-700c-rim-Rigida-Ryde-5-speed-36h-/202154932342
Get the full wheel on eBay for £99, which is less than the hub alone on SJS.
Otherwise, if you like complications, the hub measurements are similar give or take a couple of mm so I would say yes.
ACI double butted stainless steel spokes from Cyclebasket start at £0.21 with nipples, so not a great expense to go for new ones.