If you're over 5'6" that bike is too small, as it appears to be a 52cm frame.
Hard to tell from the photos for certain, but that fork looks like it may have a tweak in it from a frontal impact, it looks a bit bent below the steering tube. Check carefully, as a site line looking from the top should show a straight line from the steering tube to where the fork bends forward.
Paint is very rough and typically I have no interest in bikes in that condition. Portland's reputation for being a hot bike market, I would value the Nishiki at about $100-$120, in ready-to-ride condition, if there is no fork issue.
Excuse our Canadian friends for their lowball valuation, they feel almost as bad about the loonie as the Brits feel about the pound.
If you wish to remain friends with your coworker, just tell him you want a bike not so cosmetically challenged.