the Cort Strats around £200 are just fantastic guitars. Add a bit of money for a set up and possibly a replacement bridge HB, and that is still well within your budget.
I have a Cort G254, which cost about £155. it is a staggeringly good guitar for the money. The neck and frets are particularly excellent.
The only thing that you can see they have saved a bit of money on is the pickups, which are not terrible, but could certainly be improved upon.