Finally managed to strip the bike and low and behold, it seems to be the very same frame mentioned on the
https://www.classiclightweights.co.u...t-hanlon-1968/ as once owned by Simon Carter, serial 442. The story above about lavender paint, well it is kind of lavender, this one.
Now what to do with it? The wheels on pic above are 126mm, while spacing on the frame is 120, so this means I need some 120 hubs/wheels to start with. Did someone say single speed ? Is something like that allowed for such nice frame?