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Budget I would estimate at around £1500 for the starting system with three 250GB or 300GB drives and expansion capacity to do to 6 or 8 drives.. So I think NAS is about the only option at that budget and even that may be pushing it..
Yup, 1500 quid isn't going to go far, I'd see if you can find a 1U server chassis with four hot swap drive bays, there are a bunch of them around, then add motherboard & controller to taste.
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