I believe I have found a tent that would be suitable for my needs.
Basically, I want a 2 compartment tent one for me and one for my bike. Keeping my bike and panniers, bags out of sight.
Anything better for this price or cheaper?
This is a 5000mm waterproof apparently so would want 5000 or higher
https://www.blacks.co.uk/equipment/000086-berghaus-peak-3-3-pro-3-man-tent-green.html
Advice often given before purchasing a new tent is to do a pitching and crawl test, or in your case, definitely a crawl test. I'd imagine getting any bike (except a folding bike) into the vestibule area at the front is going to be difficult, not to mention getting it back out again! As well as severely hindering my access in & out of the bedroom part. Is there any place you can see this tent in the flesh? Have you done a good assessment with the measurements given?
I've never put my bike in a tent, nor have I ever seen it done. My panniers either stay on the bike or go into the vestibule (never the sleeping section).
Is this tent to be used solo or as a couple trio? As a solo it might be made to work with bike storage, but 2 bikes or more? I don't think so.
The hydrostatic head is a scientific measurement of the material. While useful, it is only one factor in waterproofness. Pitch, tension, care of material, condition of seams are also factors. In wet weather the lack of space available in the vestibule would be more a source of wetness for me, than the HH - but then I tend to clumsy.
I'm not familiar with this tent, so can't comment on quality or value for money. It's heavy, by some people's standards, but I started out with a tent about the same weight. You're not saying where, how often and under what conditions you expect to use this tent, other than for bike storage.
MSR do a Bike touring tent, specifically designed with a front vestibule for a bike. Or sometimes people add a (homemade) tarp design to the front of their tent. The former will be far more expensive, the latter budget friendly.
Don't forget - Bikes are designed to be outdoors. They can take being left out. Maybe cover the saddle. And if security is your fear tent pegs are easily removed.