Thank you everyone for all the thoughts, anecdotes and suggestions etc... I really appreciate it. Sorry I haven't been faster at responding - I have been drowning under a ton of work which was unexpected.
Thank you Capn Bug Smasher, GTE and RustySparrow for the heads up about the inertia, I have flown more than just a PA28 and a PA28RT - so hopefully this won't be too much of a surprise! It could be fun to get an hour or two in a microlight, so I may well do this too!
chevvron, that wingspan is HUGE! Interesting design, reminds me a little of the glider fitted with a jet engine...
https://goo.gl/D6cjv1 (there are some more elegant ones designed as "pop-up" that I've seen)
Dan D & Foxmoth - Any airfield requiring you to pay a few hundred pounds on top of a few hundred pounds a month on hangarage I find criminal. I only know one place which does this near London (WLAC) but as you do not pay any landing fees by being based there, I've been told that the membership is equivalent to 22 landings / circuits. So I guess that if you're purchasing a plane, and basing it there, you probably ought to be doing more than 22 landings a year. (You also get access to the club house, a nice pub, etc...)
ABGD - that's good to know, I recently joined The Tiger Club and I absolutely love it. Are you also a member? Or do you just love the turbs?
Colibri49 - thank you for the advert, but this is far too far for me. If I owned a share there, it would be upwards of 2 hours drive to fly, which would be somewhat counter-productive.
Arclite01 - this is very interesting indeed! Thank you very much for your input.
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I think there is a mis-understanding here.... This is not a cost-saving exercise, I am not after "the cheapest per hour that I can find". I am not hour-building either, (I have more hours than would be required for any licence I could possibly want) and these machines do not run on CofA - they are permit aeroplanes.
If someone is looking at purchasing one of these stunning old machines for "cheap flying" then you are absolutely right, and you should recommend they look at a modern microlight, or even another hobby. However, here, I am looking for an open-cockpit, tailwheel, single (or double) seater to have a bit of fun in without a proper "mission profile" as I have access to other machines for such purposes.
Will I fly all over the UK and (most of) Europe in one of these "old vintage" as you put it? Most certainly! But this isn't about "the mission", it isn't about the cost, it is about the fun, the small strips flying, the meeting of farmers and other aviators on their strips, the air in your hair, this complete freedom of where and when to go and simply put - just an incredible adventure ahead of anything else. With regards to your safety concerns, most of these planes will be re-covered every 10 (ish) years, when glue, structural damage etc will be assessed fully by a licensed engineer. So I am not 100% sure where this lack of safety idea comes from. I would of course make my own independent assessment with another licensed LAA inspector prior to any purchase.
Now about this particular purchase that I was very interested in, it turns out that the hangar I had phoned, which DID have a space, no longer has enough space to fit in the Luton Minor, so I am looking at other options around London area but this hasn't been too fruitful yet! Might have to wait until I find space which the current seller won't be keen on...
Thank you again for all your help!
Alex