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I'm pretty sure you can set up multiple users on that office licence so they can each get their own 1TB OneDrive. As you say it's good value if you use the cloud drive.
Also be aware that you can add licences before your current one expires so if you spot a good deal during the year you can apply it and it will extend the expiration date.
aggi
No worries.
So at ~ £17pp plus 300GB each it sounds like good value to me.