The frame has pretty Haden lugs but pressed dropouts. This was essentially the cheapest frame Mercian made.
Advert on post 2 here.
https://www.retrobike.co.uk/threads/mercian-campionissimo.349129/
Would make sense to split and sell the parts.
@EltonFrog if it had been more local would you have been more interested?
Its a bit big and I don't like the colour !
I agree, I would have had it repainted.