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it was originally coated in house paint and another friend stripped it down to what you see here:
trying to find out any information about it. what i know is that it is GB/UK British made, as indicated by the stem, which looking at the lugs, seem to be stock along with the frame
as you can see, the frame features arrow shaped lugs at almost every instance
i've been told that this hole is a grease hole, so maybe it indicates it age somehow?
the only markings on the bike are the key i think, however i'm not sure where to start looking.
they read: "50 - 937" on the ND side and a tiny 5 on the D side. there is also a B R at the back of the BB shell that you cannot see in this photo
it would've originally taken 27's i think, as they fit nice and tight. the fork dropouts are 9mm, as modern wheels don't fit it and the old 27's i have fit it. also, the rear spacing is 110mm. the frame is quite light, so i'm going to go out on a limb and say its Reynolds 531 (it is so much lighter than the lightest cro-mo frames i have).
and that's all i know, hopefully someone out there has more information?
^ ah thanks for the help fellas. i'm not so sure that it could be a mercian as i believe the pattern for their serials were frame number XXX then year XX with an addtional number for the builder of the frame.
its very similar but i don't think mercian is the one. the BR is also stamped on the fork steerer and it seems to be the only markings on the forks.