The other alternative is to buy a separate espresso machine and grinder which can also be done for about £300 nowadays. Say Gaggia classic + Iberital MC2
Separates are clearly less convenient than bean to cup and there is a fairly steep learning curve but you are rewarded with far better espresso. If espresso isn't your thing and you are not the only user I'd go for a bean to cup or just stick with a cafetiere and get a decent grinder.
Thanks for the replies guys. I've decided to go for the bean to cup machine as at least the other half can use it daily then without me getting all precious about my toys.