Found this on the Diabetes UK site
It seems to be a cross between both, I have the prices. It only reads when you scan it so it won't alert highs or lows like a CGM would. But you can scan it as much as you like, no calibration required. I think the reader is guaranteed for 2 years, sensors last 14 days.
Starter pack (reader plus two sensors) £133.29 + VAT
Then £48.29 + VAT per sensor
Having diabetes we have VAT exemption on medical items
http://diabetessupport.co.uk/boards/showthread.php?t=48429