Restoring Bathroom Woodwork

I have just bought a house where there was no extraction fan in the bathroom. I'm going to install one, but I'm left with damage from years of not having one.
The bathroom vanity is made of pine, and it appears that the varnish has started to break down big time. There appears to be little staining. They are certainly not in bad enough condition to throw out - just need some TLC.
I am planning to sand the panels back to bare wood, give them a week or two (is this long enough?) to make sure they are dried out, and then re-lacquer them - with a substance that I'm hoping someone could advise:) I haven't done this before so am looking for help.
On the upside, I am finally going to have a workshop that I don't have to pack up every night and whenever rain looks likely:D

Being pine, you may want to apply a little bit of an interior wood stain prior to applying the clear finish.

There is a huge range of colours available for you to choose one that matches the rest of your bathroom.

Then you may want to be finishing it with some sort of flooring finish - for extra durability.

In terms of extraction fan, make sure that the fan you buy is big enough for the job. The $20 Bunnies jobs are not always the best, nor are those 3-in-one type arrangements. Their motors are quite small. Something like a Mistral 6220 has plenty of guts, and at a retail level - is one of the fans that moves the most air.