How much for LBS to replace drivetrain and bottom bracket?

[I like Skol]

I would imagine it should ride like new if I got the work done.

That really depends..... If the rest of the bike is in similar condition to the drivetrain/BB then it's likely that the bike will still ride like a worn out bike with knackered hubs, bent wheels and dysfunctional brakes. Just replacing the BB, cranks and chain isn't going to do anything for rubbish gear changes either. Really needs the condition of the whole bike assessing by someone that knows what they are looking at.

It's far too good to take to the tip!

How do you know that? We only have a stock image of a similar (new) bike. Given what I have just said in my previous sentence then the bike might be worthless scrap.

 

[Kingfisher101]

Just ask how much all the repairs are going to be then decide if its worth it to you?
If you are not going to use it much even if repaired I'd just give it away to anyone who wanted it or a bike recycling place.
I think it will be in the region of £150-£200 going on work I've had done before.

 

[FrankCrank]

If the OP is not mechanically minded (seems the case) and bike is worth salvaging, then one of those places run by volunteers who recommission donated bikes would be a good idea. The one in my hometown back there is called the Reading Bike Kitchen (RBK), and they also run classes on how to maintain and repair bikes that are worthy of a second life. Many similar exist throughout the UK as far as I am aware.

 

[rydabent]

Changing the rear cluster can be done in 5 minutes after the wheel is off. Putting new bearings in the BB cant be more than 15 minutes. Then there is the price of what ever parts are replace.

 

[Kingfisher101]

Yes but you need the tools and he has said that he doesn't want to do it themself.