My suggestion is the Coronet CONSORT .It has a quiet universal type of motor unlike most of the modern ‘hobby ‘ type of saw tables . There is a man in Blackpool who has used one on site work for many years and he raves about it . He also sells them ..
It is definitely a M L 8 . It’s been repainted . Original colour was either CREAM or later ones were Silver .I have experience of refurbishing these lathes and am happy to advise .
I can supply a copy of the hand book /manual for this lathe . There is a vital part that needs screwing onto the end of the the spindle before you insert the drive centre .In my experience this part goes astray quite often when a lathe changes hands .
Your motor is an imperial B56 frame one . I used to buy these from an excellent firm in Sheffield called BEATSONS . Phone number is 0114 244 9955 . They also do repairs . The £300 price quoted was a deliberate ‘off put ‘ one .
I have some original Arundel literature where a J4 MK11 is illustrated. This lathe has bronze bush bearings and is listed as having spindle threads of 7/8”x14 RH and 5/8”x14 LH .These were made in the mid 1980 s.
Take a clean sample to one of those TRADE paint shops that supply the motor body repair people . They will be able to mix you up an aerosol can . I pay £13 a time . Gloss and satin /eggshell usually available.