I know the Caravelle comes at a premium in the used market. I'd struggle to justify ripping out the interior to convert one into a camper. But on aside, I found that Shuttles of similar age were considerably cheaper than the equivalent aged Kombi on the used market. So even if you dont get motorcaravan status on a conversion, you can run at car speeds from the off. I've copy and pasted this from another thread, but listed some advantages of going down this route elsewhere on the forum....
....The Shuttle has some advantages but if your getting it converted by a conversion company, check that they will take it on as a build. Also check beforehand with pop top roof fitters, if they'll do it too.
It's generally less sought after than Kombis, so they seem to be cheaper as you mention.
Heater and aircon in the rear. Try and get 3 zone climatronic. Check for auxiliary coolant heater too, for faster warm up in cold weather. It can also be adapted at a later stage into a remotely operated parking heater, if you wish.
8 seater has captains seats already. Front bench seat in the 9 seater isn't that comfy as it is but can be modified to make it recline more. Apparently makes a big improvement in comfort.
You'll have carpet if you choose to keep it with thick foam backing. (SE spec only)
Most seem to be T32's. But it's not a goods vehicle so class 4 MoT, instead of more stringent class 7. Albeit, I believe a T32 panel van becomes a class 4, if it's converted and re registered as a motor caravan.
Choice of LWB and SWB
They register as M1, MPV, diesel car. So normal car speed limits apply from the outset.
EDIT: VED is based on emissions so car rates based on emissions apply, not commercial vehicle rate. (£200 for 12 months at time of writing on a 150bhp DSG LWB)
You have factory fitted windows. Lots of them. Although probably without sliders. Maybe a good thing as I believe sliders are prone to leaking.
Twin sliding doors and a tailgate.
Seat brackets in situ. Redundant seats and brackets can be sold.
Moulded side panels. May need modified or cut though to accommodate furniture. Or you could strip them out, sell them and start from a blank canvas.
Some sound proofing already factory fitted.
4 speakers set up fitted.
H7 headlights, H7 headlights and by the way....... double check them, but they should have H7 headlights.
(By all accounts, the H4s found on the PVs are crap)
LED rear lights.
Caravelle style front grille. Or has the Caravelle got a Shuttle grille. In any case, the extra chrome bits look proper sparkly.
Try for SE spec. It's not the same as a Highline PV. MFSW, cruise control and front fog lights are missing from standard spec but there are companies who will retrofit these if your buying used. Likewise, rear parking sensors or a rear view camera. Ridiculous that there not standard on a LWB passenger carrier. 40 quid will buy you an after market camera.
I'd recommend the DSG 7 speed box. With cruise added, it makes for a relaxing drive over a short ratio manual. Especially in town.