It depends on what you are wanting to make. The chuck might struggle to cope with the maximum sized bowl you could make on that lathe. At least you already have tools and sharpening sorted as that is an expensive bit that people frequently forget.
As for the lathe, it again depends on what you want to prioritise. The electronic variable speed is nice, and buying from new means you get a warranty. If you think you will want to make biggish bowls I would suggest looking at second hand as you can get a lot more for your money. Forced to choose I would go for capacity over the convenience of variable speed. I have had a swivel head on both the lathes I have owned and found it really useful.
Another option if length is limited in the workshop would be an old bowl lathe eg a Denford Viceroy or Union Graduate (though Graduates tend to go for a lot more than your budget). You could always add variable speed in the future if you wanted. This would allow much bigger bowls, and weight is your friend when it comes to out of balance pieces! Equally if you want to make pens or other spindle turning, the greater weight and swing would be irrelevant.
A quick eBay search throws up this:
https://www.ebay.co.uk/itm/196573333130? which is a lot of lathe for the money, but 3 phase so probably no use. No idea if the cheap inverters you see on Amazon are any good.
