You've got £600 - £700 to spend on a commuter/light tourer/do everything bike. Needs mounts for mudguards, at least a rear rack (front would be a bonus), 30mm tyres would be nice but 28mm would suffice, needs to come in a small/50cm frame size.
2nd hand options seem very limited due to the frame size.
Any ideas? I've no experience with the low end Shimano groups on a lot of what I've been looking at, is it total shit?