My uncle just gave me his old bike, first bought by him at uni.

It’s a steel road bike, with Brookes saddle, looks OK but needs tyres/cables/bar tape etc.

It is my size.

Worth bothering doing up?

Probably worth selling. People love buying those kind of things to do up. They’re more into the doing up, than riding it.

Updating it to sti indexing etc will cost a fortune

It’s a Brown Brothers Vindec. Uploading pics.

Do it up and do L’Eroica. We did it last year, totally brilliant.

If you want to take away the down tube shifter but not go mad with the cost you could fit some Into the end of the bars.
I use my 1960s 5 speed a lot for pub coffee and running around it rides just fine

Very much depends on the original quality of the bike as to whether it is worth doing up. It’s not a marque I’ve ever heard of.

I thought Brown Brothers were/are an Australian wine producer

Is the frame made from butted tubing with taper-gauge forks? Reynolds and Columbus tubes were popular at that time and for me would make it worth considering as a project

You’d need to look at its condition too. If you can just regrease and rebuild with new cables then why not? Having ridden it you can sell it if you don’t like it and more than cover your costs (but probably not your costs in time spent)

Nothing wrong with downtube shifters. If it’s 5 speed at the back you won’t be changing gear all the time like on a modern bike.

It is 1×5.

I will have time to properly look it over tomorrow…