You should be aware that post war Shipley bikes are not fetching much money at the moment. There are several 1947-49 bikes advertised in the forthcoming June Yowl, if you’re unsure about this one.
Your biggest potential worry will be the state of the bottom end on an unknown engine especially if you don’t know why it was laid up, You can inspect the big ends with covers removed and that should give you some clues to the state of the engine especially if it turns over with compression. However, the potentially expensive problems come from the main bearing crankcase cups which are a specialist job to replace. The front forks were originally air suspended and will likely have sunk unless replaced by springs. My personal recommendation would be go for a running machine while the market is depressed. Of course, if the bike is cheap then maybe worth the risk?
Good luck!
Keith
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