For £850 you can do all of those things!
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Are you planing to drive it, track it or just pose about in it?
Tyres
Brakes
Shocks
Lowering springs
Service
Check stuff isn’t falling off
Cambelt done?
Induction kit
Exhaust maybe
Re map.
Rest if any on fuel
Strip car back to components.
Sell all said components
Buy MX5 & track tuition