Preheat the oven to gas 7, 220°C, fan 200°C.
Rub the beef with the olive oil, then roll it in the crushed peppercorns to coat. put the joint in a roasting tin and cook for 20 minutes. Then turn down the heat to gas 3, 160°C, fan 140°C, and cook for a further 40 minutes for rare meat, 45 minutes if you prefer medium meat, or 55 minutes for well done meat.
Remove the beef joint from the oven and allow it to rest, covered, for at least 20 minutes before carving into thin slices. Serve the beef warm, or at room temperature.
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