Tiger - you re not gonna know yourself in a bigger craft. I guess you got it at the right $ as the "War Office" gave financial approval. Keep us up to date as you go with picks.

Looks Ok for a fix up . Is the front console a fibre glass bolt on ? If so i would be tempted to remove it all and turn it into a centre console.

I,ll be posting up my rebuild soon , it took a lot longer than i thought  because the more parts i removed the more problems i found.

Post up your progress as you strip it all down so you can get advice and ideas.

Cheers Grant .

certainly looks like it has a lot of potential for a very good project boat please keep us posted on progress and pics

They were a solid little rig. I had its little brother, the Osprey, as my first boat.  

In J. Webster second hand boat books these SWavage Lancer 530 Pro(fessional) are praised as the favourite off shore cuddy cabin boats

Some statts;

Lenght; 5.33

Max beam; 2.32

deadrise 13 degrees

Hull weight;480kg

Weight on trailer; est: 1050KG

Max power 115HP

best power; 85HP

Keep the cabin as it is easy to fit an overhead canopy and rocket launchers plus it makes it even more seaworthy and it was designed, weightwise with it.

 I have been running a Savage 525 Orey for 12 years. It is a little different to the Lancer in that it has a bigger cuddy cabin. I am very certain the hull is the same. I have fished all sorts of weather and distances off shore. Have even landed 10 Marlin in it over the years.

I run a Honda 90 on it, which I think is a little heavy for the set up, even with the bigger cuddy cabin balancing the weight out.  My main disappointment with the hull has been its nose up attitude across the trim range. You will find the hull is rough in chop and sensitive to weight distribution underway and at rest. That doesn't stop me fishing the fads and even doing a trawl at the Rotto trench.

Consider getting the batteries up front, although in the Lancer the captain and passanger are well forward so weight balance for nose up attitude may not be such an issue. You will have a bumpier ride being that little bit further forward.

may be worth while instaling two very large capacity bilge pumps in the event of getting water over the edge.

I like being able to handle the boat alone at the ramp and in my yard.

I can get through to the bow via door openings, which the Lancer doesn't have. So you may wish to use the anchor from the deck out of a plastic tub.

Dont go less than 90HP for the engine.

I cannot figue out from the pics if you have under floor fuel tank or not. Bermuda still sell the type in my Osprey. 

Hope this has been some help to you. Look forward to some finished posts and fish photos from you in the future.

Thanks all for your interest - already some great info and advice and good to know there is some expertise on hand when I have some queries (and I'm sure there will be lots).

Just to manage everyones expectations.....I've seen some pretty amazing (and expensive looking) refit threads on this site, mine is going to be a bit more of a budget challenge. The coffers are very much limited for this project, so will be looking to do things as cheaply as possible whilst still doing justice to the old girl and hopefully ending up with something very useable.

I'll keep posting progress pics to this thread, but will prob create new threads for issues that I might need help on, so please keep an eye out.

Thanks again. 

 Everything in life is a compromise, boat motors are as well. Lets say you put a 70HP on the back, we'll you will find top speed is a little low, you won't get onto the plane quickly (hole shot) and you will have trouble planing with 3 men on board. Additionally you will do a fair amount of wide open throttle boating and may find a propeller change is required (more dollars) . This is all a compromise and may well suite your needs if you plan to fish the sounds, five fathom bank or three mile reef etc. but if you crave for the West end of Rotto then you should reconsider power plant.

the Honda 90 weighs 170kg, and you will find lots of 115HP two stroke engines around with that weight. I tried the lifting stabilisers bolted to the leg to increase trim down power and reduce planing speed but took it off after a few unhappy moments in following seas driving at a 45deg angle to the swell.

if I had my time again I would choose the 115HP in a two stroke version and put trim tabs on the back. In all fairness to the Osprey it is not built to work where I often go. It is a Costal Runner styled hull for sae conditions on the East Coast. Not many owners would have run it 60km offshore.

all of the chandlery stores will stock Bermuda products, or buy the tank one off gum tree. Getting under floor fuel tank should be a priority for many good reasons. I appreciate its all more cost, but it will make a huge difference to the deck space and handling. The tank size is all about how for off shore you want to go. Fishing out of Tandibidy at Exmouth will see you use 20 litres or so. Perth fads need 100 litres, and the Murion Islands a bit more than 100 litres. 

much of what you are doing will depend upon how far off shore you want to go. When I bought the Osprey I had been running a 13' Savage with a 10HP blue band Merc in the Snowy Mountains and figured catching a few snapper would be my thing. When I got to the West end of Rotto I just kinda kept goin.

my good fishing mate had a Merc 135 on a 6.5 m plate alie, coupled with a stainless prop. He took me for a run in Warnbro sound one day and got over 90 km/hr !   I didn't like that, and he always hated how he was on and off the throttle to work the boat in sloppy seas. What he needed to do was put a smaller pitched or/and diameter prop on to make the boat terrific to drive in slop and slower for my brain to keep up with

 I have just completed a full rebuild on my Viking and although I spent a bit of coin on this one I have rebuilt about 4 boats before this one on a budget and they all turned out great yours is a good size can't wait for the pics.