I have come across a nice lugged steel frame. It has been repainted and I can find no identifying features other than a serial number K8G5434 on the bottom bracket

It **might** be European. Why do I think this?

1. It has seat tube for 27.2mm seat post diameter
2. The cable stop for the rear der on the RHS chain stay is a type that requires a cable ferule with a reduced diameter end - the smaller diameter part of the cable ferrule fits in a hole in the cable stay leaving the part of the ferrule that is slightly wider that the cable diameter abutting the cable stay (if that makes sense) - I have 531 and Columbus SL bikes made in Europe with this type of ferrule fitting.
3. Cable guides under the bottom bracket are brazed on

Drop outs are good quality (but no Reynolds or colmbus or campag stampings????)

Any ideas what it might be from the serial number? - will post pics later