Nextcloud server / old hardware

I have been running nextcloud on different hardware for a while.
In the beginning a NAS, then a VM.

With a few more users running it i was thinking of building a dedicated server for it.
After a quick search i found very cheap Proliant DL360’s with 2 x Intel Xeon Quad Core 2.26GHz L5520
for around 140 Euro.

I was thinking about installing the free Hyper V on it (headless) and then just copy the VM i have running now to it. Toss in a few SSD’s (our cloud size is just 9GB) and have a true standalone server. I have the rack for it.

Anyone else has experience with older hardware? i take it Nexctloud is not very CPU hungry so any old CPU would work? (note around 7-8 ppl work from it)

Core2Duo E4600 8Gb DDR3, SSD 250GB for system Ubuntu 16, 2x4TB HDD for storage.
Over 15-20 users. Working fine.