You won't need an i7 unless you are doing video editing and a lot of multitasking. An i5 4690k is great for gaming and overclocks well. Also cut some money where I could and added a R9 390 gpu. The one you had only had 2gb of vram and a lot of games are getting close to using 4. It's a bit more but will last you a long time. Its a little over your budget but I think this would work well for you.
PCPartPicker part list / Price breakdown by merchant
| Type | Item | Price |
|---|---|---|
| CPU | Intel Core i5-4690K 3.5GHz Quad-Core Processor | £178.38 @ Amazon UK |
| CPU Cooler | Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler | £24.95 @ Aria PC |
| Motherboard | ASRock Fatal1ty Z97X Killer ATX LGA1150 Motherboard | £99.56 @ Scan.co.uk |
| Memory | G.Skill Ripjaws X Series 8GB (2 x 4GB) DDR3-1600 Memory | £40.28 @ Ebuyer |
| Storage | Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive | £36.12 @ CCL Computers |
| Video Card | MSI Radeon R9 390 8GB Video Card | £269.99 @ Amazon UK |
| Case | BitFenix Neos Black ATX Mid Tower Case | £28.31 @ Aria PC |
| Power Supply | EVGA SuperNOVA NEX 750W 80+ Bronze Certified Semi-Modular ATX Power Supply | £61.70 @ Amazon UK |
| Prices include shipping, taxes, rebates, and discounts | ||
| Total | £739.29 | |
| Generated by PCPartPicker 2015-08-09 04:28 BST+0100 |