A GL75 is a great starting point, but is probably best treated as just that. Lenco's have a lot going for them, with parts of their design being extremely good, and others being ... ahem.
The motor and the idler are excellent, the platter perfectly good so long as you address the ringing inherent in a lump of machined aluminium, the bearing is remarkably OK for a low cost manufacture, and the stock plinths are worth replacing or reworking at least. The arms are only for those who like to recondition and restore.
Even a stock GL75 is very musical though, so your £10 purchase with a reasonable cartridge should make remarkably good music (take off that horrid sprung base). Take the motor and idler, mount using a PTP heavy steel top plate on a heavy ply or slate plinth, and add a good arm and you have a very good turntable indeed. Renew the bearing and you have an excellent turntable. If you go this route you will have to be a determined DIYer though.
I love what I have now (PTP Lenco on slate plinth with a new bearing), very dynamic, rock solid bass, a good sense of closeness to the music, and it will be interesting to see how others find it. The Lenco community sites are some of the friendliest around.