Thanks for the advice to all. You are correct that this is a 916 GTV rather than 116. I do know that it is a 24-valve model. This engine was considered troublesome and expensive when offered in the North American market in 1994-95 because of the time and expertise required to replace the cam timing belt. I assume that once done by a competent mechanic there should be little worry.
I am also considering a 2.0 twin-spark model. Any opinions on this engine? Both models currently available are reasonably priced at $8,000 CDN for the v6 and $7,000 CDN for the twin spark (4,000 and 3500 GBP, respectively).