Yes, as it has an i5 6400 (probably an i5 7400) CPU, a GTX 1050 ti, and an SSD. It also offers 16gb RAM, though more than 8gb is not really necessary for either office use or casual gaming.
It apparently has a worse SSD than the one it was reviewed with (UV400 is a lot slower than the HyperX Savage) although that won't affect gaming performance and it's still generally better than an HDD.
If £700 is your limit it might be your best option. If you can go ~£50 higher I might sacrifice the SSD for an RX 470 which is a lot more powerful and so will last a good while more for gaming before it becomes obsolete, and a faster CPU to feed future GPU upgrades. You could add an SSD at any point in the future as an upgrade. Chances are that when you come to upgrade the GPU in a few years you'll find the i5 7400 a touch limiting.
That said, if £700 is your max and you know what the tradeoffs are, it's a viable option.
Then as I say it should perform well in those kinds of uses.
If your kids move into more demanding games in a few years you might find yourself buying a newer system / replacing parts sooner, but for the uses you describe it seems like a good fit. I can't draw up anything better for the same price on this website anyway.