New build/upgrade help [UK]

[xpronic]

I'm currently not sure if I should upgrade the cpu and gpu in my current pc or build a new one. Current pc specs:
i3 3220
MSI B75MA-P45
Corsair 8GB 1600MHz Vengeance LP
Sapphire R9 270 Dual-X
240GB Samsung EVO SSD
1TB Western Digital HDD
Corsair CX 500W
Corsair 200r


Budget - £700
Resolution - 1080p
Games / Settings Desired - High/Ultra: GTA 5, Far Cry 4, Dragon Age: Inquisition, Metal Gear Solid 5, Witcher 3, Evolve
Any other intensive software or special things you do - Run a Plex server
Country - UK
Parts that can be reused - SSD, RAM, HDD, Case...PSU?
Do you need an OS? - No
Do you need peripherals - No

[Deleted]

You didn't answer what games you play so can't tell if you need the very high end parts. Either way you would need cpu+mobo+gpu+psu (psu is crap quality) and aftermarket cooler unless you have one that fits and you didn't mention it.
With your budget you can afford the good stuff

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4690K 3.5GHz Quad-Core Processor (£167.60 @ Amazon UK)
CPU Cooler: be quiet! Dark Rock 3 113.8 CFM Fluid Dynamic Bearing CPU Cooler (£45.59 @ Aria PC)
Motherboard: Asus MAXIMUS VII RANGER ATX LGA1150 Motherboard (£125.20 @ Aria PC)
Video Card: Gigabyte GeForce GTX 970 4GB WINDFORCE Video Card (£287.99 @ Ebuyer)
Power Supply: Antec High Current Gamer 620W 80+ Bronze Certified Semi-Modular ATX Power Supply (£63.88 @ Amazon UK)
Total: £690.26
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2014-11-06 18:43 GMT+0000


And in case you're wondering this will max out everything at 1080p and 1440p.

[xpronic]

How easy is it to overclock the i5 and how far would I be able to push it with the DR3 cooler?

You didn't answer what games you play so can't tell if you need the very high end parts.

I've added the games I intend to play to the op.

[Deleted]

Noone knows you have to find out yourself. Every chip is different. Which cooler you mean DR3? Dark rock? Its good cooler but will depend on lucky you are with cpu chip. Can handle 4.5-4.6 fine.