That`s a pretty impressive failure sheet

. I guess they must have gone through the car with a fine tooth comb.
My biggest concern would be how rotten it is underneath. The mechanical parts are pretty cheap and you`ll probably end up replacing most parts anyway during ownership if you want a decent car.
You`ll also have to factor in how much you can get for the 500 parts that will go with it(maybe couple hundred quid).
It doesn`t look like it will be cheap though as it`s already on £600.
How much it`s worth? It`s hard to say. To me it`s not worth much, but to someone who really wants one it`s probably worth much more

.
Test date: 6 May 2008
Test Result: Fail
Odometer reading: 37,169 miles
MOT test number: 5021 3742 8138
Reason(s) for failure:
Offside Front Front wheel bearing rough when rotated (2.5.A.2)
Offside Seat belt anchorage prescribed area is excessively corroded (5.2.6)
Front Steering component mounting prescribed area is excessively corroded (2.2.C.1h)
Nearside Front Seat belt flexible stalk cable has broken strands (5.2.4b)
Offside Front Seat belt flexible stalk cable has broken strands (5.2.4b)
Offside Headlamp does not operate immediately when selected on dipped beam (1.7.4a)
Offside Front Direction indicator not working (1.4.A.2c)
Offside Stop lamp not working (1.2.1b)
Parking brake lever has no reserve travel (3.1.6b)
Nearside Headlamp aim aimed so that it dazzles other road users (1.8.A.1a)
Indicator tell tale inoperative (1.4.A.2a)
Offside Front Brake hose leaking (3.6.A.1)
Service brake: efficiency below requirements (3.7.B.7)
Parking brake: efficiency below requirements (3.7.B.7)
Brakes imbalanced across an axle (3.7.B.5b)
Nearside Front front brake recording little or no effort (3.7.B.5a)
front brake application uneven (3.7.B.2)
Nearside Rear rear brake recording little or no effort (3.7.B.5a)
rear brake application uneven (3.7.B.2)
Nearside rear parking brake recording little or no effort (3.7.B.6a)
Offside rear parking brake recording little or no effort (3.7.B.6a)
Advisory notice item(s):
Nearside Front Shock absorber has a slightly worn bush (2.7.4)
Offside Front Shock absorber has a slightly worn bush (2.7.4)
Nearside Rear Shock absorber has a slightly worn bush (2.7.4)
Offside Rear Shock absorber has a slightly worn bush (2.7.4)
Nearside Rear Direction indicator affected by the operation of another lamp (1.4.A.2h)
Offside Rear Direction indicator affected by the operation of another lamp (1.4.A.2h)
Nearside Rear Shock absorber has a slightly reduced damping effect (2.7.5)
Offside Rear Shock absorber has a slightly reduced damping effect (2.7.5)
Oil leak
steering feels rough when turned from lock to lock
n/s drive shaft breaking up
o/s drive shaft fouling on sub frame
rear suspention arms slightly weakened by corrotion
rear brake pipes slightly corroded