I wonder why the DVLA wouldn't register the sale ? Presumably if the previous owner had the original log book, the car has the VIN plate & number plates then I thought they'd just accept a transfer, cars don't need to be road legal to be sold/registered do they ?
But what's been done looks quite decent & it's a good collection of upgrades, especially if you want a race/track car. A lot of work if you want originality though.
Brian