Nice looking car from the eBay advert, but is going to be slow compared to modern traffic. The advert has it as a Series IV, but I would suggest it is a Series V from the build date and the engine installed.
The engine is a pre-crossflow 1500, the engine from the Mk1 Cortina and produces about 65bhp. As it appears to be fairly unmolested, changing the engine (and gearbox), is possibly a real shame.
If you want a project, find a cheaper, (and more numerous) 4/4 1600 to alter.