Forgotten something?
You have forgotten the most valuable thing in your question: the Training Captain. You could get a sim for £1/hour but with a tosser in the back it is not even worth sitting in the thing. Get a good TRE/I and then you have some value. I'd suggest that you source a good trainer (ex airline) and he (or she) will know where to get a sim at a reaonable price. And sim slots are sold at about £300/hr in 3 to 4 hour blocks. So unless you are really loaded, I wouldn't bother.