I recommend you check out /r/pcmasterrace's wiki builds. The Media Elite is meant to have similar performance to next gen systems. If you add Windows to the build, it comes out at under £300.
PCPartPicker part list / Price breakdown by merchant
| Type | Item | Price |
|---|---|---|
| CPU | AMD FX-4200 3.3GHz Quad-Core OEM/Tray Processor | - |
| CPU Cooler | *Arctic Cooling ACALP64-GT 25.6 CFM CPU Cooler | £5.98 @ Amazon UK |
| Motherboard | Gigabyte GA-78LMT-USB3 Micro ATX AM3+ Motherboard | £39.59 @ Aria PC |
| Memory | *Kingston 4GB (1 x 4GB) DDR3-1333 Memory | £21.23 @ Amazon UK |
| Storage | Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive | £39.23 @ Scan.co.uk |
| Video Card | *XFX Radeon R7 260X 2GB Core Edition Video Card | £79.51 @ Scan.co.uk |
| Case | Deepcool TESSERACT BF ATX Mid Tower Case | - |
| Power Supply | *EVGA 430W 80+ Certified ATX Power Supply | £28.98 @ Scan.co.uk |
| Operating System | Microsoft Windows 7 Home Premium SP1 (OEM) (64-bit) | £67.95 @ Ebuyer |
| Prices include shipping, taxes, rebates, and discounts | ||
| Total | £282.47 | |
| *Lowest price parts chosen from parametric criteria | ||
| Generated by PCPartPicker 2015-05-17 14:32 BST+0100 |