obviously second hand will get you more 'bang for your buck' as it were...you can get some seriously nice basses for that cash...
Some Of Alan's custom ACG stuff will go for around that so you could pick up a seriously lovely custom bass for that! 4, 5 or possibly 6 string...
mass produced stuff, a Lakland 55-02 s/h will be about £750, 35" scale and one of the finest mass market instruments for the money
older stuff, classic Tokai stuff on here at the mo, or vintage Ibanez Blazer basses (p-bass variant) for about £350 each,
There is a nice Jap Fender J on here too at a decent price...
You could get a few basses for that money and have a variety to play with