This looks like an 1987 P4 Corbier. Bottom of the line in the Peugeot lineup. Steel Rims, Bars and seat post. 27 inch wheels. Hurst derailleurs...
If you put allow rims, bars and seat post and upgrade the components, it will be a good bike (but it will probably take you $150 or so to do that). So at $270, you can do better, IMHO... Plus there is no place to put DT shifters, so you would probably have to go with bar end shifters...
These bikes are very comparable, but I think you can do better.