I've picked up an old TE which drives perfectly, but there is an issue which is whenever I drive it when I get home I've got a really strong burning oil smell and in the right light you can see oil smoke coming out the grill.

I've had a look with a spotlight, and there is a huge buildup of grease and oil under the rocker cover where the 3 exhaust outlets come out of the engine near the alternator. There is also a lot of exhaust noise suddenly too so it may have burned through the metal and opened a hole.

Anyone had an oil leak in this area before and know whether it's an easy fix or not?

Easy fix mate. Very common for magnas to leak from rocker cover. If you lift up your spark plug leads, you will find they are leaking as well. In severe cases, the oil drips down onto the exhaust manifold, causing a burning smell (which is exactly what you have). They are relatively easy to do, all up for parts only, you are looking at around $110-$150. Please note, if you can see it is leaking severely from the front, it is highly likely that the rear one is leaking as well (assuming you have a V6?)

i had mine done last week my rear rocker cover was dripping on the starter motor which then failed on me.. also was leaking bad at the front over the altornator and from the sparkplugs.. my only advice is do it asap..
Danny..