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A Siemens base level controller with drives, servos and spindle motor will leave you with little change from £5k
What are the kit prices and what professional lathes come in at conversion...

I don't know what size your lathe is but a quick google search turned up this video, maybe it will give you some ideas

https://www.youtube.com/watch?v=1rEC3S5HFY8

Rule number one with a lathe. Keep the chuck key out of the chuck when not in use! Rule number two is don't wear long sleeves or articles that can be wrapped around the work! Following those you...