Thanks for responses all, much appreciated. As always value depends on who its selling to: end user vs. investor.
I bought weights.co.uk for development into a leading weightlifting and fitness equipment shop thinking it would take a year to build it up to £xx,xxx annual profit but upon reflection, unfortunately, I've got too little time to really turn this into the site it deserves to be. It would be nice to sell it to someone with high aiming goals for the site, but in the end it'll be the highest bidder who gets it. Saying that, I would consider a profit share deal with someone who wanted to develop the site.
Hence, I expect to sell via auction on Sedo in the next month, PM me if you want to be emailed an auction reminder nearer the time.
Cheers, munson