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@Sparky
I managed to buy a Thorn Audax for £150 this month. I'd borrowed it last year and bent the big chainring, though, so that needs changing, along with the other two, the chain and cassette.
It also needs repainting (£65 Armourtex) and a new saddle/bartape/mudguards. Still, all in, I'm probably looking at £450. It has a full XT groupset and Hugi hubs.