Sounds like a good basic beginners guitar. I'm sure George loved it when he first got it. I think he only had it about a year and then sold it to a pal in school so he could buy his Hofner President. The Hofner is the one he used in the Quarrymen and the one he used for the audition for John on the top of the bus. He passed the audition.
I just sent off an email to the Beatles Museum to question if the bridge on George's guitar has been changed? You can see it is brown in one pic (probably walnut) and in another pic it is white (probably bone). It is the same guitar as you can see the two spots on the body are identical.