Thanks for all the feedback on the domain name appraisal.
Don't think the seller had much experience, he put it on Sedo but didn't market it. We had had our eye on the name for a while and had tried to make contact with the seller before it was ever listed on Sedo.
We are happy with the purchase price and feel that the name has a massive potential. It fits in nicely with another one of our names CornerSofa/co/uk
The idea is to start with an affiliate model and then move forward to a full E-commerce site with drop shipping.