Also worth noting that the one characteristic they should look out for is someone who generally comes across well as a leader; there's a reason that Thatcher/Blair/Clegg/Cameron were all able to do bend their parties ideologies, and perform very well in elections. If they had someone like Clegg without his baggage they could do well regardless of what position they take
If they manage to solidify their credentials as the pro-Europe, centrist party, eventually they will catch back on with the youth.
Why would that help them with young voters?
Yeah, don't forget that their pre-2015 popularity with young voters was in no small part thanks to the fact that they presented themselves as to the left of Labour (not just tuition fees but Iraq, civil liberties and the Charles Kennedy brand of social democracy)
Well, that's obviously gone now that Corbyn and not Blair is the Labour leader.