I'd say no.
So long as it's been done properly in the first place, and then maintained properly, absolutely not. Many converted cars go on to cover massive mileages without issue.
You get the occasional one which is badly converted, never sorted, passed from pillar to post etc, however you'll get dog eared 4.4's which aren't converted too, and plenty of diesels which are much abused.
I'd maybe avoid one though, if you don't want LPG, just on the basis that most owners will expect a premium for a converted car, and there should be plenty of unconverted 4.4's out there, especially for £12k! Range Rover-less at the moment - Pining!
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