Further to experimentation with the magazine layouts, here is my work which I presented to class:
Front Cover: 
Mid-Spread: 
Back Cover: 
Visual Mockups:
Overall, I am happy with the outcome, although as also suggested by my peers and lecturer, the text on the front cover can be reduced or removed completely, and the text on the left page of the spread is too large and bulky. These could be adjusted easily to be easier to read and less distracting.
Regarding colours, I think I could have done a better job on the front and back cover, since the colour is not 100% fitting with the rest of the elements in my opinion.