Difficult to tell the condition from the photographs, but the early 1980's weren't Morgan's best period when it comes to quality of build. Rebuilding that could easily swallow £30k even if you did much of the work yourself, and I wouldn't think the result would be worth much more than £25k
But if making money out of it isn't an issue, you fancy a project to do yourself, and you can take time restoring rather than replacing components, then it could be worth a punt. Personally I wouldn't pay more than £4 maybe 5k for it, but you may be prepared to go higher if it tickles your fancy.
