At long last I have found a paper suitable for inkjet printing both text and photos which is light enough to bind using traditional sewing techniques. The paper is Tetenal Duo Print Paper 130gsm. It has a matt finish, can print double-sided and is available in sizes A4, A3 and A3+.
Unfortunately, it does not appear to be cross grained which limits a little the size of the pages one can output. Nevertheless, I have tested its folding properties and the texture of the paper is such that even folding across the grain does not result in too much springiness so I will have to experiment with this.
One great bonus is that the manufacturer provides ICC profiles freely downloadable from their website . I have tried the profile for the Epson 2100 which does a pretty good job, printing with good tonal range without puddling or blooming. The colour balance is slightly too magenta on my setup but is close enough to neutral for this to be rectified with some minor tweaks.