Indeed - I have a similar sized and (likely) engined petrol car from the same era (older) and I've alwasy managed to get a minimum of 34mpg, and that's as you describe (and I'd only ever do that for very short periods).
It could be that the OP's car is a 2.0L, but still...perhaps (other than how it's used) it needs a major service, including checking items such as the injectors, MAF sensor, EGR, exhaust (including CAT) etc, as any of them could be clogged and could reduce the mpg of the car.
If the car is otherwise mechaincally (suspension, rust, other moving parts) and electrically sound, then it's probably better to find what the problem is, fix it and see if any of the aforementioned (plus any others can think of) parts are checked to see if it can run better, especially as some of them at least can be 'repaired' by the use of simple spray cleaners or fuel additive bottles.
Worth trying (spending a couple of hundred £ tops) first before spending several thousand to change to a new (to them) secondahand car, especially where the usage history (not just it having a FSH) is not completely known, especially if it were a modern diesel-engined car which might look good on paper due to the better mpg, but which may conk out due to emissions-systems related problems or may well be old enough to incur ULEZ penalties in the near future.
I would also hope that the car gets serviced not just once a year but by mileage if it's used that much.
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