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@justMouse
My great uncle (quite a decent roleur on all accounts) had a Youngs tourer. My dad inheirited it, took it back to them and asked if it was worth salvaging. They creamed themselves over it - did pretty extensive work on the seat tube (to free seatpost), beautiful repair job on the jug work and a very good respray. This was about 15 years ago tho. It cost about c.£50 (prob about the same as today given inflation).
I'd say that based on my gt uncle's general enthusiasm for cycling (decent level club rider but not made of money) it'd be a pretty good frame (his was 531 if that's anything to go by).
My story has a sad ending, since when I went to get the bike from my dad's garage, he'd given it away to the jumble some years ago without asking me if I had a use for it :o(