Good solid bike built in 631 tubing (it's the same as 531 steel, but I think the 631 means made under license rather than by Reynolds themselves), sensible gearing and looks nice.
The wheels will be a bit heavy but bombproof & the deore/tiagra gearing is a good setup.
The brakes are not great, but are the same as every other tourer in the price bracket (except the
EBC Country Explorer with disks). I've got the same brakes and they will stop a fully laden tourer on a hill, just don't expect disk like performance.
The rack looks very similar to the one on my £250 Claud Butler Classic. It works fine for most stuff but may need upgrading for real heavy loads. I have moved a weeks shopping on mine though so it's not particularly weak.
Overall that's a nice bike.