I don't think it's expensive , BUT I wouldn't render -- it has a bit of character and potential .

I'd clean the stonework ( chemically clean ? ) , do the surround and the window we can see ( probably every window in that room ) in a dark charcoal , add honey stained wooden venetians , and bring in the colour via the lounge suite and/or rug , and at least 1 colourful piece of art .

I suspect the surround was originally varnished , and you could restore back to that if it suits your and the houses style , but I think it would be too dated for me .

This style of fireplace surround was common in the 1960s in many mid-century modern and post-war homes. It wasn't expensive then due to the cheap labour with lots of stone-masons immigrating from post-war Europe. There is a lot of skill and craftsmanship to get all of the irregular stones to fit together harmoniously. Poorer houses didn't have fancy stone fireplace surrounds, but exposed face brick, often to match the exterior or just the chimney.

Today it is a very different story, with stone masonry a dying art, many of the stonemasons from the 1960s having since retired (or gone to the big stone quarry in the sky), and not many younger people taking up this trade. So today stonemasons who are skilled enough to do this type of work to this standard are rare and can charge what they like for their craftsmanship.

It would be an act of vandalism to smother this craftsmanship in common render as it is a beautiful feature, and could never be re-instated. I would use it as a starting point to give your living room a cool mid-century modern vibe.

Best of luck,

Dr Retro of Dr Retro House Calls/Dr Retro Virtual Visits

I’d tile over it