2-3oo £ for a new bike isn't going to go very far at all - i'd frankly advise against it.
best bang for buck in that price range would be a good quality but unfashionable alloy frame - something like a kinesis T2 / TK3 etc - you can pick them up pretty cheap - under £100 - then best wheelset you can find for under £100 on here. leaves you £100 for everything else - will be tight but doable.
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