I bought a fretted/sunburst one of these last weekend through Gumtree, Reading (in fact it was a job lot, a bass, two guitars and a Park practice amp for £50...yup, £50).
Aside from the faults...it's got dings a plenty, was badly set up, dead strings, broken volume pot...once I'd given the truss rod a tweak, put on some new strings and given it a set up, it was surprisingly nice. The output is off the scale, so high. It has aftermarket Schaller machines on it as well. I've put on Dunlop Straploks and I'm just waiting for new pots and a couple of knurled control knobs and I can screw it back together again.
P