Peter,
A careful look at both
current Thorn brochures (Club Tour and Audax Mk 3) and a review of
historical online reviews for the two bikes online reveal no impediments to your plan insofar as I can see.
Going this route -- swapping frames and reusing the majority of the parts -- is a financially smart way to go. You should also save on shipping costs and import duties, thanks to importing only a frame and not an entire bike.
The one thing I will note is your "Jenkins-engineered" bike likely won't be as light overall as the lightest Thorn-offered option, thanks to the heavier Club Tour parts you'll be swapping over. If the parts and frame sizes were comparable to the factory-lightest Audax Mk 3, I'd think you could save as much as 5-6lbs/2.3-2.7kg over a heavier-spec Club Tour depending on whether you went with the steel or carbon fork. Instead, I would guess you might save somewhere in the neighborhood of 3.5-4.25lbs/1.6-1.9kg, but that is an estimate based on spec sheets and not all reviews were for comparable frame sizes. The biggest difference you'll likely notice will be due to the different frame geometries.
The only fly in the ointment I can see might be a greater tendency toward toe/fender overlap on the Audax. I do see Andy Blance made cautionary note of this in the Audax brochure (red box warning, top-right of page 3 in the PDF brochure)...
Whilst having significantly more clearance than a “racing”bicycle, the Audax Mk3 has less clearance than many traditional touring bikes. Mk3 owners should expect to wear “proper SPD type shoes”, or “traditional cycling shoes, with steel toe clips and straps”. Either type must be set to allow clearance, when riding a Mk3. Failure to cycle with appropriate footware, could lead to contact between the rider’s shoe and mudguard...which could precipitate loss of control.
In contrast, Andy says this about the issue wrt the Club Tour (upper-right, page 4 of the Club Tour PDF brochure)...
Persons with exceptionally large feet, for their height, may have to use “proper cycling shoes” and/or restrict tyre width, to avoid toe overlap.
I probably should point out the obvious...
Of course, you'll lose overall load capacity and front carrier capability (in the event you go with the carbon fork), but that is likely not an issue for your intended primary use -- Audax. The Audax Mk3 also allows for only two water bottles instead of three, and tire clearances are tighter as one would expect (Club Tour up to 700x40, Audax Mk3 up to 700x28 in Thorn's option list).
Unless I needed the money immediately to fund the new frame, I would be inclined to keep my old frame for a bit to see if I was truly happy with the swap. By waiting just a bit to sell the old Club Tour, you would have a fallback option in the event the new frame doesn't meet your expectations (I have a hunch it will and all will be fine). You also have the option to build-up the old frame again at some point in future, or swap the Club Tour parts back onto it as you upgrade the Audax if you wish. After some time with the Audax, you may still find yourself wishing for a relatively lightweight
touring bike and you would have a good platform for that again in the Club Tour.
I wish I could tell you I had experience with just this swap, but I don't. I have done much the same thing between a number of other bikes, and except for keeping in mind differences in component dimensions (i.e. rear drop spacing, headset/steerer diameter and type [threaded/threadless], and brake type/reach), all should be smooth sailing. There is an additional advantage in that all the components you'll be swapping are proven and familiar; all you'll really need to adjust to is the new frame, and that can be an advantage when using a new bike in Audax/rando riding.
What you'll be doing is probably the truest comparison of frame materials and geometry one can imagine, 'cos it is really only the frame that will differ, along with a very few individual components. If you decide to go this route, I for one eagerly anticipate your impressions and ride reports to see just how the frames differ in ride, feel, and handling, and which you prefer both for overall riding and for Audax.
Best regards
and best wishes on the project should you decide to pursue it; I think it'll go well!
Dan.