I think you could break that up and almost break even, if the pictures accurately reflect its condition. Adv large tank £500ish; Rear Ohlins £250ish; Adv wheels £350ish - you wouldn't have to go much further to reach £1500. I'd think it a reasonable basis for a project at that price - unless you find that the subframe mounts on the gearbox have broken, or there is hidden damage not obvious in the pics (like the rear shock being damaged for example). I'd need to see it in person before bidding...
EDIT - The rear subframe may be OK - it looks more like the pannier rails have taken a bump - but once again, when considering something like this, you need a close inspection. Also remember that the completed project would still be a Cat B write-off, and therefore less valuable on the market when you come to sell it...