I'm looking to get a small server to predominantly act as a content storage network drive but I will also want to be able to run Ubuntu or even just the most basic Linux distro. It will have XAMPP and WAMPP stacks configured on it but the bulk of usage will be copying / reading of content over the network and local web development and pushing sites to live environments.
Am I right in thinking that a NAS server would be adequate for what we really intend to do use it for? I don't think in this instance anything more would be needed would it?
Would something such as this NETGEAR ReadyNAS 102 be suitable?
No.
A NAS is a specialized appliance with a vendor-supplied firmware. It is not a general-purpose server.
Of course, since most NAS appliances are coming with off-the-shelf hardware nowadays, you should be able to hack a NAS appliance into a simple Linux install, but you obviously will lose all support from the vendor. It also typically is not worth the effort as you can buy small but more powerful general-purpose machines for about the same amount of money.
If it is just about using it as a piece of storage, then just go straight on. But do not forget to read the reviews beforehand - many low-end appliances are rather poorly equipped and underpowered so they probably would not deliver the performance you're hoping for.