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Howard
Got to say I'm really surprised by the numbers being suggested.
I know of someone who had to do a full renovation of a similar size house about 10yrs ago and they spent ~£250k. Admittedly they had to repin one external wall and do work on the roof, but still given the number of anecdotes about peoples budgets going up by 20-100% in the last year its got to be much higher.
My guess is you could get it to normal person livable for £150k (rather than lfgss.com livable). But right now to do it properly it'd be £350-500k. Which I reckon is why the current owners are bailing.