He's not scrimped there hasn't Bobby. Those wheels alone are probably £800.
If you want a really nice bike for a lot less, I can recommend this...
<a class="postlink" href="http://www.planet-x-bikes.co.uk/i/q/YBPXSLPRIV/planet-x-pro-carbon-rival-road-bike" onclick="window.open(this.href);return false;">http://www.planet-x-bikes.co.uk/i/q/YBP ... -road-bike</a>
Or have a look on eBay. You'll get a half decent road bike for £2-300.