Hmm, definitely a Cordite bonnet as the nose is quite different, and it's also probably a Cordite body as there's no sign of a cut'n'shut anywhere.
The steering rack is in the right place - just ahead of the front suspension turrets - and I'd suggest that the angle of the steering arms is down to the car being lowered an awful lot, perhaps too much.
The engine installation looks pretty neat, but I seem to recall that Mike Miglia put a V8 into a Herald chassis with his, ahem, uniquely modified Spyder body over it and it needed a scoop the size of a wheelbarrow to clear the carbs. As that engine looks low enough for the carbs to clear the inside of the bonnet (although they're not fitted in the pics, perhaps significantly) it looks as if the front cross-member might also have been moved or removed.
Overall, with the rear suspension mods alone, never mind the possible cut to the front chassis, it's going to need IVA, which is going to take an awful lot of work.
Would fly on a track, though, possibly quite literally...
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