Cannondale CAAD reconditioned with lots of brand new components, worth £315, so no money need to be spent anytime soon. 
It also has Carbon forks and seat post making it very lightweight.
 
Fully serviced and brand new parts as follows:
Headset Bearings (£40)
Bottom Bracket (£35)
Front Chainrings (£60)
2xSchwalble tyres (£60)
Jockey Wheels (£15)
10SP Chain + Cassette £70
4xcables £20
Handlebar tape £15
Total parts worth £315