I'm looking for a strat as another guitar and i tried this out today. I was pleasantly surprised and i got all the tones i wanted and it felt very nice... http://www.guitarampkeyboard.com/en/fender-one-stratocaste/8641

but is it value for money? could i get something a lot better if i spend £100 more? What about the used market?

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Highway strat are excellent from the Guitarist and Total Guitar reviews they got.
highway one strats are the second best strats, of course the american strats rule all.
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Highway One's are great! Ive had one for about 2 years now and I absolutely love it! It took some setting up before it played really well but they are def one of the best values for the money... Made in the US (not that mexico crap). If you play classic rock and blues it will suit you perfectly.