Thinking of my first build... Advice?

Only problem I can see with it is that it doesn't have an eyelet for a front break.

Is that an easy fix/something I could do myself or would it be worth seeking out a different frame?

i believe it does, and i think it's the perfect set if you're after a commuter that can handle some speed once i a while..
since it's in your price range (remember it comes with headset, seatpost and clamp) i would just buy a new set

http://www.dolan-bikes.com/Track%20FrameSets/Aluminium%20Track%20FrameSets/FXE?product_id=605