That's the kid's model - we sold about one a year at the shop. Could have sold more but we only ever got about one a year. Biggest weakness of the bike was that you're putting decently fine British steel under a young kid who would probably be absolute hell on a Varsity. The idea was to sell them to well mannered young children in hard core cycling households. Somewhere, back then, the Brits didn't realize that Americans don't understand the oxymoron "well mannered young children".

Gee, doesn't that bike look about right for East Hill? Nah, probably too tall.

Value? I'd guess about the same as an equal condition full sized Record, plus a bit more since it is a bit rare. Not valuable, mind you, just a bit rare. Definitely worth cleaning and saving, however.