I shouldn;'t get over excited about this Phillips! it is "typical" Raleigh/Nottingham knocked out frame usually seen in thousands, sporting an all-steel "group" ie standard Ralparts brakes, three-piece hubs, SA-3sp at the rear, steel chainset and straight all-rounder model bars to which were clipped Ralpart steel brake levers
The lugwork might appear to have a hint of the italian about it but in reality they were gashly stamped out, with acres of socket, ans generally badly brazed up ie nail-tip voids at the edges. The one redeeming feature was the flam orange paintwork applied, I think over a silver undercoat. The True Temper steel was a "quality" standard mild steel made by Tube Investments, although I'm uncertain how mild steel can be tempered!
Rest easy and don't bid on this one unless you wanta gentleman's light roadster. Oh.. I think the bike had ribbed steel mudguards sprayed to match the frame, and came complete with a built-in rattling noise at no extra cost.
Norris Lockley