TheWatchMan, check out one of the threads on off the peg bikes. I can't be arsed to find the ulr but a quick search will find it for you. Loads of good bikes for not alot of money, plus they should hold their value too.
It's a sticky in the BIKES & BITS thread.. http://www.londonfgss.com/thread2287.html
@hippy started
London Fixed Gear and Single-Speed is a community of predominantly fixed gear and single-speed cyclists in and around London, UK.
This site is supported almost exclusively by donations. Please consider donating a small amount regularly.
It's a sticky in the BIKES & BITS thread..
http://www.londonfgss.com/thread2287.html