Assumably you are asking this because it will be kept outside, my first question is how big is the whole replica going to be? Then does he need to keep it outside? 1:26 is roughly doll house size, it could be stored inside easily.
If it is so large it needs to be kept outside, I would be looking at ignoring varnish and using house paints or enamels.
Hobby specific paints would be way to expensive in terms of volume to be painting it all, as would varnish, unless you were using like deck polish.
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