Thanks guys, the advice is very helpful - for this lathe I think I will try to get to grips with a simple LunuxCNC setup. I have already bought Stepper motors and drivers from here https://www.omc-stepperonline.com/

They seem cost-effective and they arrived in 48 hours

Whilst researching I stumbled upon this stand-alone CNC controller - https://www.masso.com.au/ It seems super slick and while not the cheapest option it does seem to offer a level of value for money that I find enticing. No need for another computer and fully integrated. This may be a bit too much for 125 TCL but I have a small Mill that I also want to convert. what do you think?