Hi jam2727, What a fabulous find mate...It would make a great restoration project....Qualcast were a very popular machine in their day and were very reliable.
Jam, the reel and knife blade can be resharpened by an engineering workshop (contact your local greenskeeper, he will advise you)and while the reel is removed, you can check the bearings etc, before re-assembly and painting.
There were no wheels on the rear, but had either a solid wooden roller or split wooden rollers running on a solid metal axle.The engineering workshop could advise on a new axle, if yours is missing.
You could have the roller turned up for you on a wood lathe as most originals would have really deteriorated over the years.
All you need then is some handle bar grips, some paint, and 'Voila' you will have a fabulous lookin' machine!!
Great find mate,
PS....Jam, a lot of these machines had a canvas bag catcher arrangement that used to attach to the rear of the mower, some, as I remember my Granpops' had none