I have not seen this K, but it is on a vertical surface of walling, and there is an earthing pole, with the wire still clamped. They were generally fitted in the early days of valve radio, some in the days of the catswhisker crystal radios. I wonder if this K is a part of a longer inscription?
The pipes I can remember my uncle using were very thick walled, a grey colour and they never rusted, a sort of gunmetal, they had a long point on the end, drive them into wet soil to get a better earth.
I remember using that when I set up my aerials for shortwave reception, and wishing I had some of the poles my uncle had in the 1940s. Never as good as the old stuff.
You said earlier about getting a better earth, I ve seen electricians settin uo at outside concerts, driving in earthing stakes and the getting all the crew and others to pee around them to get a better earth potential.
Ok the earth pole is for the telephone.... this practice hasn t been used since the 80 s. Yes the K is on a vertical surface and NO it is not part of any other lettering on that building ::1: