Which bike for my first project

CamdenFC

Retro Newbie
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The Pearson.
The other 2 are low low quality.
A historic paint scheme or an iconic typeface do not make a nice riding bike.

Additionally the Pearson will have decent tyre/guard clearance, will be hand-built 531 and the canti bosses allow you to fit brakes that might actually stop a loaded bike by the bottom of Porlock Hill😄

The other 2 ought to be recycled😉
 
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Actually that Holdsworth is an Equipe. I've had mine for around 20 years and it's covered thousands of miles, including a century or two. Looks a bit expensive at £110.
Mine has always been a fixed gear, built with mudguards. Has made a great winter bike. Used to commute 30 miles a day on it during the Winter.
 
The Pearson.
The other 2 are low low quality.
A historic paint scheme or an iconic typeface do not make a nice riding bike.

Additionally the Pearson will have decent tyre/guard clearance, will be hand-built 531 and the canti bosses allow you to fit brakes that might actually stop a loaded bike by the bottom of Porlock Hill😄

The other 2 ought to be recycled😉
the Holdsworth's alright but rather steep (as is the fork rake, I suspect it's been in a little bump).

the pearson though is the clear winner.
 
Personally I would stay clear from all of them and hang on for something else or put a wanted ad here.

The Pearson looks the most promising in the first round of nice legs, but:
- no bottle cage bosses
- extensive rust (internal at the BB)
- I suspect those canti-lever bosses are for much older original Mafac style canti-lever brakes;

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- Your brake choice will be limited and pretty sure you wouldn't be able to try MTB canti-levers or V-brakes if you so wanted.
- Rear derailleur hanger thread and stop will need properly checking.

For £120 pretty sure you can get better in better condition for a first project.

A complete bike to restore is always economically best if you are starting from zero / an empty parts box.

It's a buyer's market too at the moment.
 
Not your size but this was available on here last week

https://www.retrobike.co.uk/threads/mercian-reynolds-531-competition-58cm-c-to-t-seat-tube-cantilever-vgc-with-headset-and-mercian-stem-£125-00.486626/

I bought it and it is a 1994 bike frame with no rust from one of the premier British bike firms. Wait around and something will turn up or place a wanted ad here on the appropriate forum. You can do better than those three.

First bike clearly been in a heavy smash, second bike was from the US so high postage costs for a cheap bike and the Pearson was the pick of the bunch but for your first project something a little newer 90s or perhaps mid 80s onwards would probably be easier in terms of components and condition.
 
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