As for wheels I think these are pretty hard top beat although they will use half of your budget: http://cgi.ebay.co.uk/New-Hope-Pro-3-Road-Bike-Race-Wheels---Mavic-Open-Pro_W0QQitemZ390156777407QQcmdZViewItem?rvr_id=127236758973&rvr_id=127236758973&cguid=37168bef12a0a0e202d0c6c0ff407500 Then go for a Tiagra groupset theat you can pick up for around £300 new on ebay or £330 from online stores. http://www.fatbirds.co.uk/detail.asp/sku=mad-bunbletiagratriple/Shimano_Tiagra_Triple_Groupset
Then all thats left is the finishing kit (bars, stem, saddle, post, peddals, bar tape, tyres and tubes) all the sort of stuff you can pick up cheap enough from here.
Oh and some mudguards.
@furious_tiles started
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As for wheels I think these are pretty hard top beat although they will use half of your budget:
http://cgi.ebay.co.uk/New-Hope-Pro-3-Road-Bike-Race-Wheels---Mavic-Open-Pro_W0QQitemZ390156777407QQcmdZViewItem?rvr_id=127236758973&rvr_id=127236758973&cguid=37168bef12a0a0e202d0c6c0ff407500
Then go for a Tiagra groupset theat you can pick up for around £300 new on ebay or £330 from online stores.
http://www.fatbirds.co.uk/detail.asp/sku=mad-bunbletiagratriple/Shimano_Tiagra_Triple_Groupset
Then all thats left is the finishing kit (bars, stem, saddle, post, peddals, bar tape, tyres and tubes) all the sort of stuff you can pick up cheap enough from here.
Oh and some mudguards.