It has come to renewal time for koolkidz.co.uk It is PR1, although no link building has ever been done. I think it is 4 years old, maybe a bit more, and has previously been a personal page/ games site for kids. Its predicted pagerank is 2.2 (can't remember where I saw that) but with some decent link building and SEO it could be 3 or 4 next update. It looks to me to be worth between $50-$100 but not sure, perhaps worth nothing. Please advise!
I'd agree with your own assessment, due primarily to PR. That said, that PR could fade if you do nothing with it, so I'd try to either flip it cheap or renew only if you're going to develop.